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U.S. Second-Quarter Growth Revised Upward to 3.1% Annual Pace

U.S. second-quarter growth was revised up slightly without altering the bigger picture of a consumer- driven economy that also got a healthy contribution from business spending during the period, Commerce Department data showed Thursday.

The third and final reading on second-quarter growth precedes what will likely be significant storm-related distortions in the third quarter, with hurricanes Harvey and Irma seen depressing growth before rebuilding efforts help boost GDP in the months ahead.