Upward revisions in consumer spending; home prices climb; the week ahead

After faltering in the first quarter, the U.S. economy expanded at a pace not seen in more than a decade in the subsequent six months, according to data released this week. That performance stands in contrast to many developed economies', including the euro zone and Japan, which have been treading water or worse recently.

Other reports out this week, however, which included housing and consumer confidence and spending, painted a more nuanced picture of the domestic economy.

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