The US economy grew 3.3 percent in the second quarter of this year, in conformity with the previous estimate, the Commerce Department reported on Thursday.

The gain compared with an rate of 3.8 percent in the first quarter and 4.2 percent for the year 2004.

The report said consumer spending, which accounts for about two-thirds of the US gross domestic products and is the major engine of economic growth, grew 3.4 percent in the second quarter, up from the previous estimate of 3 percent reported by the government last month and comparing with a 3.5 percent growth rate in the first quarter.

Business investment in equipment and software was also stronger in the second quarter than estimates, growing 10.9 percent, as compared with the 10.4 percent previously estimated for the quarter. In the first quarter, investment grew 8.3 percent.

However, the economic growth rate for the second quarter stayed at a previously estimated 3.3 percent because the bigger increases in consumer and business spending were blunted by other factors, including the fact that export growth in the second quarter turned out to be less brisk than previously estimated.

Source: Xinhua