US economic growth upwardly revised

<p>US economic growth has been revised up to 2.5 per cent.</p>

New data from the Commerce Department in the US shows the country's annualised rate of growth for the second quarter was 2.5 per cent.

Figures from the department had previously stated the economy expanded by 1.7 per cent between March and June, with the 2.5 per cent growth double that seen in the first quarter.

A rise in exports was cited as one of the primary reasons for the expansion of the US economy during the second quarter of 2013.

The revised non-annualised quarter on quarter figure announced by the Commerce Department was 0.6 per cent, which was up from an initial 0.4 per cent estimate.

This 0.6 per cent growth for the second quarter brings the US in line with the UK, which recorded a similar set of figures for the March to June period.

In the UK, the Confederation of British Industry recently upwardly revised its annual prediction for economic growth to 1.2 per cent.

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