The United States economy grew slightly more than previously reported in the second quarter, helped by consumer spending and export growth that was stronger than earlier estimated, according to a government report on Thursday that pointed to slow growth rather than a recession.
The nation’s gross domestic product grew at an annual rate of 1.3%, the Commerce Department said in its third and final estimate for the quarter, up from the previously estimated 1.0%.
The revision was a touch above economists’ expectations for a 1.2% pace and took G.D.P. growth back to the government’s original estimate of 1.3%. The economy expanded at a 0.4% rate in the first three months of the year.
Separately, new claims for jobless benefits fell sharply last week to their lowest level since April, although a U.S. Labor Department official said government statisticians had problems seasonally adjusting the data.
Applications for unemployment benefits fell by 37,000 to a seasonally adjusted level of 391,000 claims in the week that ended Sept. 24, down from an upwardly revised 428,000 the prior week, the U.S. Labor Department said on Thursday.
Analysts polled by Reuters had expected new claims to total 420,000 last week.
The Commerce Department report also showed that while the expenditure side of the economy showed severe weakness in the first half of the year, economic activity as measured by income fared a little better. Gross domestic income rose at a 1.3% rate in the second quarter after increasing 2.4% in the first quarter.
