US economic growth revised up again

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The US economy grew even faster in the second quarter than previously thought, new figures have indicated.

The Commerce Department said it grew at a 3.1% annual rate over the three months to the end of June, up from a previous estimate of 3%, which was itself revised up from an initial 2.6%.

The further upward revision came as a surprise to analysts, who had it expected it to stay the same.

Higher consumer spending, helped boost the figure, as did state expenditure.

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