U.S. Economic Growth Revised to 3% as Consumers Rejuvenate

The U.S. economy grew slightly faster in the second quarter than initially reported, partly reflecting an upward revision to consumer spending. Data released Thursday showed that U.S. GDP grew at an equivalent adult rate of 3 percent between April and June of this year, up from the previously expected 2.8 percent. Personal spending, the economy's main growth engine, rose 2.9 percent, compared with the previous estimate of 2.3 percent.