U.S. GDP in Q2 revised up to 0.6 pct contraction

WASHINGTON, Aug. 25 (Xinhua) -- The U.S. economy shrank at an annual rate of 0.6 percent in the second quarter of this year, up from a 0.9 percent contraction estimated a month ago, according to data released Thursday by the U.S. Commerce Department.

The update primarily reflects upward revisions to consumer spending and private inventory investment that were partly offset by a downward revision to residential f