Thursday, September 30, 2004 Reuters US: Economic Growth Better Than Thought
The U.S. economy grew faster in the second quarter than previously thought as business inventories rose at the strongest rate in four years, the government said on Wednesday, a sign the soft patch was not as soft as feared.
U.S. gross domestic product -- the measure of total output within the nation's borders -- expanded at a revised 3.3 percent annual rate in the April-June second quarter.
That was up from a 2.8 percent rate the government estimated a month ago but still slower than the first quarter's 4.5 percent rate, and the most sluggish rate of GDP advance since the first quarter of 2003.
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