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GDP Report: Economic Growth Revised Higher

Wall Street Journal (08/29/12) Jeffrey Sparshott; Eric Morath

The U.S. economy grew 1.7% in the second quarter, somewhat faster than previously reported, according to a revised government estimate from the U.S. Department of Commerce. The revised figure is up slightly from the previously reported 1.5%, reflecting better trade, consumer spending, and state and local government spending figures. The revision matched the forecast of economists surveyed by Dow Jones Newswires.