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The U.S. economy rebounded more strongly than initially thought in the second quarter with more of the growth being driven by domestic demand and less by restocking by businesses.Domestic demand increased at a brisk 3.1 percent rate, instead of the previously reported 2.8 percent pace.Third-quarter growth estimates range as high as a 3.6 percent rate.The economy contracted at a 2.1 percent pace in the first quarter.This alternative growth measure decreased at a 0.8 percent pace in the first quarter.While trade was a drag for a second consecutive quarter, export growth was raised to a 10.1 percent pace from a 9.5 percent rate.
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