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US economic growth picks up after fast start to 2015
(MENAFN) The world's largest economy expanded at a faster pace in the second quarter and managed to eke out a gain at the start of the year.
Gross domestic product rose at a 2.3% annualised rate, and a revised 0.6% advance in the first quarter wiped out a previously reported contraction.
Commerce Department data showed yesterday in Washington. The median forecast of 80 economists surveyed by Bloomberg called for a 2.5% gain.
The Commerce Department also issued its annual revisions, updating the data back through 2012. The first-quarter's reading was revised up from a previously reported 0.2% drop.
Gross domestic product rose at a 2.3% annualised rate, and a revised 0.6% advance in the first quarter wiped out a previously reported contraction.
Commerce Department data showed yesterday in Washington. The median forecast of 80 economists surveyed by Bloomberg called for a 2.5% gain.
The Commerce Department also issued its annual revisions, updating the data back through 2012. The first-quarter's reading was revised up from a previously reported 0.2% drop.
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