pace

Gross domestic product increased at a 3.3 percent annual rate in the quarter, the government said. The revised reading was much better than its initial estimate of a 1.9 percent pace.

The economy shifted to a higher gear in the spring, growing at its fastest pace in nearly a year as foreign buyers snapped up U.S. exports and tax rebates spurred shoppers at home.

The Federal Reserve said industrial output rose in July at a slightly better than expected pace despite a plunge in output at the nation’s utilities.

Consumer prices were 5.6 percent higher in July than a year ago, all but assuring that the Fed will keep interest rates on hold.

Consumer prices shot up in July at twice the expected rate, pushed higher by surging energy and food costs. The latest surge left inflation running at the fastest pace in 17 years.

Inflation is running at the fastest pace in 17 years, the job market is under further strain and foreclosure filings are surging.

Government data show businesses added to their inventories in June at the fastest pace in five months, a bigger gain than had been expected.

Japan's corporate goods prices rose at their fastest pace in more than 27 years, pushed up by surging oil and commodities prices, the Bank of Japan said Tuesday.

Venezuela's annual inflation climbed to 33.7 percent in July in metropolitan Caracas, but slowed its pace as price controls on food were eased and supply increased, the Central Bank said Thursday.

Consumers — fortified by the government's rebate checks — boosted their borrowing in June at the fastest pace in seven months.