The US Commerce Department said the economy expanded at an annualized pace of 3.9%, rather than 3.7%.
The overall US economic growth was due to strong consumer spending, business investment and residential construction.
It rate is much higher than the 0.6% rate recorded in Q1 2015.
The growth rate is expected to have slowed in the current quarter, but in a speech on September 24 Federal Reserve head Janet Yellen said economic growth appeared “solid” and the US remained “on track” for an interest rate rise this year.
Janet Yellen said as long as inflation was stable and the US economy was strong enough to boost jobs, the conditions would be right for a rise.
US interest rates have been held at near-zero since the 2008 financial crisis. When they finally do rise, it will be the first interest rate increase in nine years.
Stocks on Wall Street made a bright start in the wake of the GDP figures and Janet Yellen’s comments, with the Dow Jones rising 1% in morning trade.
Misleading allegations, rumours and outright lies about voting and fraud are flooding online spaces in…
At least 158 people have died in Spain's worst flooding disaster in generations. On October…
Google has been fined two undecillion (a two followed by 36 zeroes) roubles by a…
Embarking on a home remodel is an exciting journey, promising enhanced comfort, increased property value,…
The US presidential candidates continued to campaign across key swing states on October 20. Footage…
Elon Musk has said he will give away $1 million a day to a registered…