The outlook for the US economy brightened a little on Thursday as revisions to data on growth and jobs suggested the country is further from a slide back into recession than previously feared.
Gross domestic product growth in the second quarter was revised upwards from 1 per cent to 1.3 per cent, while annual revisions by the Bureau of Labor Statistics found 192,000 extra people were in work in March, equivalent to a month of robust jobs growth.
Although the data are still very poor, the revisions suggest that the economy did not weaken as much as previously thought during the spring, reducing the chances that it is heading for a new slump.
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