WASHINGTON: The US economy accelerated sharply in the second quarter thanks to a surge in exports, bolstering the case for the Federal Reserve to wind down a major economic stimulus program.
Other economic data on Thursday showed the number of Americans filing new claims for jobless benefits fell last week, a potential sign of faster hiring in August.
US gross domestic product grew at a 2.5% annual rate in the April-June period, according to revised estimates released by the Commerce Department. That was more than double the pace clocked in the prior three months. The government had initially estimated that GDP expanded at a 1.7% rate in the second quarter. But recent data showed that exports climbed during the period at their fastest pace in more than two years.
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