Second-Quarter GDP Grew by 3.3%

The U.S. economy grew at a 3.3% annual rate in the second quarter, up from an earlier estimate, the Commerce Department said Thursday.

Commerce’s latest GDP report, up from an original 1.9% figure, followed a 0.9% rise in the first quarter.

Economists had forecast a 2.7% increase for the quarter, Bloomberg reported.

Record exports and consumer spending boosted by federal tax rebates boosted the GDP level in the quarter, Bloomberg said.