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US Q2 GDP revised up to 2.2% as private demand strengthens
Real final sales to private domestic purchasers rose 4.6%, exceeding both the 4.2% prior estimate and the revised 1.8% pace in Q1.
The final U.S. GDP data for the second quarter was revised higher to a 2.2% annualized pace, according to the Bureau of Economic Analysis, after an initial estimate of 1.5%.
Forexlive said the report also showed that real final sales to private domestic purchasers increased 4.6%, up from 4.2% previously estimated and above the revised 1.8% first-quarter pace.
Forexlive noted the upward revision to Q2 growth reflected stronger investment, consumer spending, and government spending than earlier estimates indicated, while first-quarter growth was revised higher to 2.5% from 2.1%.