The U.S. economy rose at a 1.3% annual rate in the second quarter, the Commerce Department said Thursday, boosting an earlier estimate.
Last month, Commerce said the second-quarter gross domestic product growth rate was 1%. Thursday’sÌýestimate is the third and final for the quarter.
The GDP rate followed a 0.4% first-quarter pace and was slightly higher than economists’ second-quarter estimates of a 1.2% rate, Bloomberg reported.
Consumer spending, which accounts for about 70% of the economy, rose at a 0.7% rate, up from a previously estimated 0.4% pace.
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