US growth likely to be stronger in Q3

WASHINGTON: United States economic growth was likely stronger in the third quarter than previously reported, according to data on Wednesday that showed spending on services expanding at a brisk clip. The Commerce Departments quarterly services survey showed services outlays increased much more vigorously than the government had assumed in its second GDP estimate published last month. Economists said the data suggested third-quarter consumer spending could be raised by at least two-tenths of a percentage point from a 2.2 per cent annual rate. Reuters

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