GDP Grew At A Faster Than Expected 3.8% This Spring

The U.S. economy grew at a faster pace in the second quarter than was earlier estimated, the U.S. government said Thursday.

Gross domestic product—the government’s broad measure of economic output—grew at a 3.8 percent annual rate from April through June in Commerce’s third estimate. That compares with the prior reading of 3.3 percent. Adjusted only for seasonality, not inflation, the economy increased at a six percent pace.

Economists had expected no change from the earlier estimate. Instead, updated data showed firmer household demand. Consumer spending rose at a 2.5 percent rate, up from the previously reported 1.6 percent. Final sales to…

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