US economic growth revised upwards to 2.5%

The US economy grew at an annualised pace of 2.5% in the second quarter of the year, the Commerce Department said in revised figures.

That was more than double the pace recorded in the previous three months, and above estimates of 2.2%.

The rise, helped by an increase in exports, is a further sign that the economy may be getting back on track.

Read more... The government had originally estimated that GDP grew at a 1.7% rate in the second quarter.