Growth of US economy revised up as consumer spending surges

first_img whatsapp Thursday 30 September 2010 10:46 pm KCS-content by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times THE US government yesterday revised up its second-quarter GDP growth by 0.1 per cent to 1.7 per cent.Personal consumption was revised up from an original estimate of two per cent growth to 2.2 per cent, the biggest quarterly leap in consumer spending in three years. This compared with a 2.1 per cent rise in purchases in the first quarter. Businesses built up their inventories, adding $68.8bn (£44bn) to their value, rather than $63.2bn as first thought. Inventories grew by $44.1bn in the first quarter.The tenth of a percentage point increase in GDP for the three months to 30 June added $3.4bn to the US economy. But economists warned that import numbers suggested that recovery from recession would remain slow. GDP was still far below the first quarter’s 3.7 per cent growth rate. Show Comments ▼ Sharecenter_img More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com whatsapp Tags: NULL Growth of US economy revised up as consumer spending surges last_img

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