US GDP growth revised up to 4.2%

The US Commerce Department revised the second-quarter GDP rate Thursday indicating a 4.2 percent expansion compared to the previous report of 4.0 percent.
The Bureau of Economic Analysis indicated that this second estimation was made after more complete source data was made available.
The increase in real GDP is reflected from upswings in personal consumption expenditures (PCE), private inventory investment, exports, non-residential fixed investments, and state and local government spending.
The other data revisions made since the last report of July 30 include the current dollar GDP rising to a 6.4 percent and a new Real GDI estimate of 4.7 percent. The US GDP in the first quarter of the year had a 2.1 percent loss.