Ross Wilkers
The U.S. economy expanded at a 3.9-percent annual pace in the second quarter of calendar year 2015 to beat the government’s estimate of 3.7 percent reported in August and mark the second consecutive quarter of an upward revision.
A 3.6-percent jump in consumer spending and a 4.1-percent increase in construction spending were among the drivers of U.S. gross domestic product growth in the April-June 2015 period, the Bureau of Economic Analysis said Friday.
BEA estimated consumer spending to rise 3.1 percent in the third quarter and said purchases of goods and services rose 2.5 percent in the first quarter.
After-tax corporate profits jumped 2.6 percent to double BEA’s estimate of 1.3 percent.
