Report shows US economic growth stronger in 2012

Published July 31, 2013 12:32pm ET



WASHINGTON (AP) — The government says the U.S. economy grew at a much faster pace last year than previously estimated. The revised growth figures signal a more sustainable economic recovery and help explain why job growth has accelerated this year.

The economy expanded at a 2.8 percent annual rate in 2012, up from a previous estimate of 2.2 percent. Consumers and businesses spent more and governments cut back on their spending less.

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