Nondurable goods spending was also stronger, up 3.8 percent in the second quarter.
But with wage growth remaining sluggish despite the labor market being near full employment, there are concerns that consumer spending could slow in the third quarter.
Overall, the revisions did not change the U.S. economy's broader picture and confirmed that the current expansion cycle is the slowest on record. Some critics argued that this wasn't the correct time to do so and that the economy couldn't support such monetary policy.
Annual US GDP growth has come in at less than 3 per cent for 11 consecutive years, with the world's biggest economy expanding at a rate of just 1.6 per cent last year, its slowest pace since 2011. But Trump hasn't been able to get his economic agenda through Congress, so those expectations have been dialed back. So far, the impasse in Washington has not hurt either business and consumer confidence.
The mining, oil and gas extraction sector accounted for almost 0.4 percentage points of May's overall economic growth.
"Consumers continue to drive the economy's growth, but firmer business investment is also a plus", says Mark Zandi, chief economist at Moody's Analytics.
But the recent slowdown in Toronto home sales was starting to weigh on economic growth, with activity at offices of real estate agents and brokers tumbling 6.3 per cent.
Previously is had been estimated to be 2.1 percent.
Nonresidential fixed investment, a measure of corporate spending on structures and equipment, climbed at a pace of 5.2 percent in the second quarter, down from a 7.2 percent growth rate in the previous quarter. Growth in the first quarter was revised down to 1.2% from 1.4%.
While businesses probably continued to carefully manage their inventories, they appeared to spend more in some places.
The IMF believed the Trump administration is unlikely to accelerate annual USA economic growth to sustained 3 percent from the newly revised 1.5 percent in 2016, "even with an ideal constellation of pro-growth policies".
The economy grew by 0.6 percent in May from a month earlier, Statistics Canada said on Friday, exceeding economists' forecasts for 0.2 percent. "Weaker housing construction was the only significant drag on growth in the quarter".
The GDP price index rose 1% in 2Q after rising 2.0% prior quarter. Economists had expected an increase of 0.2 per cent, according to Thomson Reuters. "The issue of "residual seasonality" is likely to persist through the upcoming revision".
WhatsApp rolled out the Snapchat like status feature a few months ago and even added a status tab only next to the home tab. We checked with them, and Whatsapp has declined to disclose its monthly and daily active users for India.
Volkswagen in September 2015 admitted to using so-called defeat devices to evade government emissions requirements. One of eight executives charged thus far, Schmidt was picked up as he tried to leave the country in January.
Bilateral ties have been strained since the Indian Army stopped China from constructing a road in Sikkim sector's Doklam area. China has told India repeatedly to withdraw troops from Doklam, which it calls as its own territory.
Charlie's doctors are responding to the facts of his condition, not the demands of the NHS, as the court case amply demonstrated. Charlie's parents subsequently failed to overturn his ruling in the High Court, Court of Appeal and Supreme Court in London .
Chris and Olivia have endured a turbulent ride in the Love Island villa, but have a great chance tonight according to the bookies. On spotting her in the room while offering some musical advice to Kem and Chris he said: "No Liv, oh jeez".
Neither approach has won any broad interest from the tech industry, and I don't expect they ever will. The company assured users the gadgets wouldn't sell house layout data without asking first.
Trump on Long Island Today at Suffolk College
The venue is close to where MS-13 has committed a string of gruesome murders, including April's massacre of four young men. President Donald Trump will address gang violence in a speech on Friday afternoon, the White House announced.
Ed Sheeran to battle it out for Mercury Prize
Jamie Callum, Ella Eyre , Lianne La Havas and Marcus Mumford are just four of the 12 judges who created the shortlist. The Hyundai Mercury Prize awards show will take place at Eventim Apollo , Hammersmith on 14 September.
Wolfenstein II DLC Will Focus on Secondary Characters
The season pass is $25, while a pre-order will cost nothing if you grab it through Amazon , or $5 from other stores. The New Colossus launches in October, but publisher Bethesda has already unveiled the game's DLC plan.
Trump continues attacks on Sessions
Corker, the chairman of the Foreign Relations Committee , spoke Wednesday on Washington Post Live. When asked about the future of Sessions, Trump replied: "We shall have to see what happens".
Samsung posts best quarterly profit amid chip boom
Net profit increased to KRW 11.05 trillion from KRW 5.85 trillion a year ago, as sales rose 20 percent to KRW 61.00 trillion. Samsung said its record-high earnings were mainly buoyed by the booming chip market amid rising demand for storage products.