The US economy grew by an annualised 4.6 per cent in the second quarter of 2014, compared with an earlier estimate of 4.2 per cent, as evidence builds of a more robust recovery this year.
It is the second upward revision following an initial estimate of 4 per cent. It shows how strongly the economy bounced back after shrinking in the first quarter due to bad weather.
Although the latest release concerns growth almost three months ago, it suggests the economy had more momentum heading into the second half of the year than previously thought, and is on the roughly 3 per cent growth path forecast by many US Federal Reserve officials.
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