WASHINGTON (Reuters) -The U.S. economy grew faster than previously thought in the second quarter, pumped up by an ebb in imports and a pickup in consumer spending, but momentum appears to have since slowed.

Gross domestic product increased at an upwardly revised 3.8% annualized rate last quarter, the Commerce Department’s Bureau of Economic Analysis (BEA) said in its third GDP estimate on Thursday. The economy was initially reported to have grown at a 3.3% pace in the second quarter.

Economists polled by Reuters had expected GDP growth would be unrevised at a 3.3% rate. Growth last quarter was also supported by businesses boosting investment in intellectual property products, mostly artificial intelligence.

The government revised the national accounts data from the first quarter of 2020

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