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US Growth Revised to 2.5% in the Second Quarter

The US economy grew at an annualised pace of 2.5% in the second quarter of the year, the Commerce Department said in revised figures.

That was more than double the pace recorded in the previous three months, and above estimates of 2.2%.

The rise, helped by an increase in exports, is a further sign that the economy may be getting back on track.

The government had originally estimated that GDP grew at a 1.7% rate in the second quarter.

The revised non-annualised quarter on quarter figure was 0.6%, up from an initial 0.4% estimate.

Housing and business investment, two key sectors of the economy, remained strong in the revised figures.

Housing construction grew at an annual rate of 12.9%, the fourth consecutive quarter of double-digit growth.

via BBC [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza