Economy Watch: GDP Growth Revised Upward

Despite meager GDP growth, consumers became more optimistic about their financial prospects in May. The Bureau of Economic Analysis released its revised estimate of real U.S. gross domestic product on Friday, the second of three that the bureau will generate. The revision put GDP growth at 0.8 percent in the first quarter of 2016, a sluggish pace but still up from the first estimate of 0.5 percent. In the fourth quarter, real GDP increased 1.4 percent.

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