Q2 growth revised upwards on consumer spending, construction

Washington

THE world's largest economy expanded more than previously forecast in the second quarter, boosted by gains in consumer spending and construction that may help the US withstand a global slowdown.

Gross domestic product rose at a 3.9 per cent annualised rate, compared with a prior estimate of 3.7 per cent, Commerce Department figures showed on Friday in Washington.

Strong hiring, cheaper petrol and higher home prices will probably sustain household purchases, which account for about 70 per cent of the economy. That helps bolster Federal Reserve chair Janet Yellen's …