Stronger US second-quarter growth backs case for Fed hike

The US economy expanded more than previously estimated in the second quarter on stronger consumer spending and construction, 
backing the case for an interest rate rise before the end of the year despite data sounding a note of caution for September.
 The Commerce Department said on Friday gross domestic product rose at a 3.9 percent annual pace in the April-June quarter, up from the 3.7 percent pace reported last month. 
The data supports the case that the US economy may be gaining enough strength to withstand an increase in benchmark interest rates from record low levels despite growing concerns about the global economy.

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