U.S. second-quarter growth revised up to a brisk 4.6 percent pace

The best performance since the fourth quarter of 2011 reflected a faster pace of business spending and sturdier export growth than previously estimated. The economy contracted at a 2.1 percent pace in the first quarter. There were upward revisions to all categories, with the exception of consumer spending, where stronger healthcare outlays were offset by weaknesses in recreation and durable goods spending. Growth in consumer spending, which accounts for more than two-thirds of U.S.

via Business News http://ift.tt/1rxQHpU