U.S. Economy Grew Faster Than Previously Estimated (Update1)

By Courtney Schlisserman

Aug. 28 (Bloomberg) -- The U.S. economy expanded at a faster pace than previously estimated in the second quarter, helped by surging exports and a smaller decline in inventories. The 3.3 percent annualized increase in gross domestic product from April through June was higher than forecast and compares with an advance estimate of 1.9 percent issued last month, the Commerce Department said today in Washington. The economy grew 0.9 percent in the first quarter. (For the Complete Story Click Here)