Gross domestic product grew at a 3.8% annual rate in April through June, up from a previous estimate of 3.3%, as consumer spending was revised higher. ...

WASHINGTON (Reuters) -The U.S. current account deficit contracted by the most on record in the second quarter as a flood of imports subsided. The Commerce Department's Bureau of Economic Analysis said on Tuesday the current account deficit, which measures the flow of goods, services and investments into and out of the country, decreased by a record $188.5 billion, or 42.9%, to $251.3 billion, reversing the prior month's jump. Data for the first quarter was revised to show the gap at $439.8 billion, sti ...

WASHINGTON (Reuters) -U.S. wholesale inventories increased a bit less than initially thought in July, suggesting businesses were not rushing to rebuild inventory after stocks were depleted in the second quarter. Stocks at wholesalers edged up 0.1%, instead of rising 0.2% as estimated last month, the Commerce Department's Census Bureau said on Wednesday. Economists polled by Reuters had expected last month's estimate would be unrevised. Inventories, a key part of gross domestic product, gained 0.2% in Jun ...