Thanks, Obama! U.S. economic growth stronger than thought
The nation's gross domestic product -- the broadest measure of economic activity -- rose at a 2.5% annual rate from April through June, according to a revised estimate from the Bureau of Economic Analysis Thursday. That's higher than the 1.7% rate originally reported, and better than the 2.1% rate that economists surveyed by Briefing.com were expecting.
Rising exports, consumer spending and real estate spending helped boost the second quarter numbers. A decline in government spending acted as a drag. The big upward revision was primarily the result of a better trade balance -- the nation exported more and imported less than previously thought, according to Paul Ashworth, chief US Economist at Capital Economics.
http://money.cnn.com/2013/08/29/news/economy/gdp-report/index.html