The Financial Post reports in its Friday, Aug. 30, edition that the U.S. economy grew at a slightly stronger pace in the second quarter than initially reported. A Bloomberg dispatch to the Post reports that this reflects an upward revision to consumer spending, which more than offset weaker activity in other categories. According to figures published by the Bureau of Economic Analysis on Thursday, gross domestic product rose at a 3-per-cent annualized rate during the April-June period, up from the previous estimate of 2.8 per cent. The main growth engine of the economy, personal spending, advanced 2.9 per cent, versus the prior estimate of 2.3 per cent. Another report published on Thursday showed that initial applications for unemployment benefits remained little changed at 231,000. Treasury yields rose, S&P 500 index futures remained higher and the greenback strengthened. Gross domestic income, which is another main gauge of economic activity, rose a more moderate 1.3 per cent in the government's first estimate for the period, matching the first quarter gain. Growth has cooled so far this year after accelerating in the second half of 2023. Forecasters see further moderation for the remainder of 2024.