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Second-quarter economic growth revised up to 2.5 percent

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The Bureau of Economic Analysis raised its estimate of second-quarter growth in the gross domestic product from 1.7 percent to 2.5 percent on Thursday morning, a steeper improvement than analysts had expected. The BEA reported that economic growth picked up from 1.1 percent annually in the first quarter thanks to an increase in exports and smaller-than-expected cutbacks in government spending....

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