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US GDP growth for April-June revised up to 3.8%

Business

The US just bumped up its GDP growth for April-June to 3.8%, beating the earlier estimate of 3.3%.
This surprise upgrade is mostly thanks to consumer spending and fewer imports dragging down the numbers, according to the Bureau of Economic Analysis.
Analysts didn't see this coming, but it's a sign that consumer spending is still powering the economy.

Consumer spending was the big driver

Consumer spending was the big driver here, while businesses also adjusted their inventory plans.
The report also points out that first-quarter GDP actually slipped by 0.6%, mainly due to less investment, government spending, and exports.
All these tweaks show how quickly things can shift in today's economy—and why keeping an eye on trends and policies really matters right now.