GDP growth for second quarter revised up to 3.3% rate

Economic growth for the second quarter was revised up three-tenths of a percentage point to a 3.3% annual rate, the Bureau of Economic Analysis said Wednesday in its first revision of the data.

The report is the second of three estimates for GDP. The headline number can change during such revisions. Still, whatever the final GDP number for the second quarter is, it has shown that the economy bounced back after a contraction in the first quarter.