Aug. 28 (UPI) -- The U.S. gross domestic product was revised slightly upward, according to the second estimate released by the U.S. Bureau of Economic Analysis Thursday.
The GDP, which is a measure of all goods and services produced in the American economy, rose to an annualized rate of 3.3% from April to June instead of its earlier estimate of 3%, the BEA said.
The new estimate still shows a sharp rebound from the first quarter, which was down 0.5%.
Consumer spending was revised up to a 1.6% annualized rate in the latest estimate, up from the 1.4% previously reported. Spending is about two-thirds of the U.S. economy.
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