From MarketWatch, a report on Thursday morning's government revision of its Gross Domestic Product estimate:

A fresh look at the economy’s performance in the spring shows business investment wasn’t nearly as weak as previously reported, prompting the government to ratchet up its estimate of growth by several notches to 1.4%.

The government last month had said gross domestic product grew at a 1.1% pace in the second quarter.

Although business investment was still soft in the April-to-June period, the weakness was less pronounced, revised figures show. That could be a good harbinger for the just-about-to-end third quarter whose rate of growth appears to have been much stronger.

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