US economy grew at a faster pace in Q2 following Commerce Department revision

The U.S. economy grew at a faster rate than previously thought in the second quarter after the Commerce Department released its first revision of real gross domestic product (GDP) growth for the latest quarter.The Bureau of Economic Analysis (BEA) released its second estimate of Q2 GDP, which showed the economy grew at a 3.3% rate. That figure was faster than the 3.1% estimate of economists polled by LSEG, and above the Commerce Department's initial Q2 GDP estimate of 3%. According to the BEA, the revision stemmed primarily from upward revisions to investment and consumer spending that were pa