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Q2 growth revised upwards on consumer spending, construction

Fed's view that US will overcome any fallout from cooling overseas markets gets boost

HEALTHY PACE: Strong hiring, cheaper petrol and higher home prices will probably sustain household purchases, which account for about 70 per cent of the economy.


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...

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