News

U.S. economy grew at brisk 4.2 percent in second quarter

U.S. economy grew at brisk 4.2 percent in second quarter

ECONOMY: In this Aug. 7 photo a worker assembles construction supplies at Northeast Building Products in Philadelphia. The Commerce Department's second estimate of growth for last quarter compares with its initial estimate of 4 percent. The revision reflected stronger business investment in new equipment and structures than first thought. Photo: Associated Press/Matt Rourke

MARTIN CRUTSINGER, AP Economics Writer

WASHINGTON (AP) — After a bleak start to the year, the U.S. economy rebounded vigorously in the April-June quarter, growing at a brisk annual rate of 4.2 percent, slightly faster than first estimated.

The upward revision supported expectations that the second half of 2014 will prove far stronger than the first half.

The Commerce Department’s second estimate of growth for last quarter compares with its initial estimate of 4 percent.

The revision reflected stronger business investment in new equipment and structures than first thought.

The seasonally adjusted 4.2 percent annual growth rate for the gross domestic product came after the economy had shrink at an annual rate of 2.1 percent in the January-March quarter, the biggest drop in activity since the depths of the Great Recession.

Recent Headlines

in Election 2014, Local

African-American Pastors Endorse Rauner

Illinois Republican gubernatorial candidate businessman Bruce Rauner participates in a Republican gubernatorial candidate debate Tuesday, Feb. 18, 2014, in Springfield, Ill. The four Republican gubernatorial candidates said that they’ll be willing to work with unions if elected but differed on how to approach the relationship during a downstate debate that largely focused on pension reform, taxes and just briefly on personal issues that have dogged some of the candidates.

More than a dozen pastors of predominantly African-American congregations are endorsing the Republican candidate for governor.

in Local

Ameren Threatens $20 Monthly Fee for No Smart Meters

Ameren+Illinois+Utilities+logo

Ameren Illinois says customers who refuse to have an electricity meter installed will see an additional $20 monthly fee on their bills.

in Local

Pizza Delivery Driver Robbed on East Side

gun

A pizza delivery driver was uninjured when he was robbed by three assailants over the weekend.

in Local

Man Charged in Connection With Pipe Bomb; Armed Bank Robbery

BRADFORD MOSS

Bradford Moss is charged with Possession of Explosives or an Incendiary Device and Attempt Theft.

in Local

Illinois Is Not Gaining Ground on Poverty

poverty

Census says numbers are stagnant