The U.S. economy was probably not as weak as has been reported in the first quarter, with data on Wednesday showing slightly stronger consumer spending than previously estimated. The Commerce Department's quarterly services survey, or QSS, showed consumption, including healthcare spending, increased at a faster clip than the government had assumed in its second estimate of gross domestic product published last month. Economists said the data suggested first-quarter consumer spending could be bumped up by as much as four-tenths of a percentage point to a 2.2 percent annual rate when the government publishes its third GDP estimate on June 24.
U.S. services data suggest upward revision to first-quarter GDP source: http://finance.yahoo.com/news/u-services-data-suggest-upward-172416447.html
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