WASHINGTON, Aug. 28 (Xinhua) --The U.S. economy grew at a seasonally adjusted 3.3 percent annual rate in the second quarter of this year, much stronger than initial reading, the Commerce Department reported Thursday.
The increase in real GDP in the second quarter primarily reflected positive contributions from exports, personal consumption expenditures (PCE), nonresidential structures and government spending, said the department while releasing the report.
The revised figure was much better than the government's initial estimate of a 1.9 percent pace and the average Wall Street estimate of a 2.7 percent growth rate.
GDP measures the value of all goods and services produced within the United States. The second quarter GDP data will be revised once more by the department.
