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Gross Domestic Product

Economy grew at 3.9 percent rate in April-June quarter

The U.S. economy grew at an even faster clip in the spring than previously estimated. But that growth likely slowed in the summer, held back by global headwinds and turbulent financial markets. The overall economy expanded at an annual rate of 3.9 percent in the April-June quarter, up from a previous estimate of 3.7 percent, the Commerce Department reported Friday. The new-found strength came from additional gains in consumer spending, business investment and residential construction. The second quarter expansion in the gross domestic product, the economy's total output of goods and services, was a marked improvement from an anemic 0.6 percent increase in the first quarter when the...