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 Local

New Ad Campaign Criticizes Kirk

Fresh
mark_kirk

Environmentalists are taking to television to spread the word about how much they disagree with U.S. Sen. Mark Kirk (R-Ill.)

in Local

Springfield Mass Transit District Unveils Revamped Website

Fresh
SMTD web

The Springfield Mass Transit District has unveiled a new website that one of its creators says should help make looking for routes and departure times much easier than before.

in Local

Two Arrested for Series of Robberies

policetape2

Two people have been arrested for a series of suspected robberies in the Seven Pines Road and Gaines Mill areas.

in Local

Teen Injured in Suspected Drive-By Shooting

gun

A teenager was injured when police say someone started shooting.

in Local

Alleged Toilet Paper Thief Arrested

Updated
toilet_paper

Roderick Chester, 50, faces charges of burglary and theft.