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U.S. Economy Grew at Fastest Pace Since 2011 in Q2

Posted September 30, 2014

Under Economic Issues

(IndustryWeek – AFP)

The economy grew more strongly than previously estimated in the second quarter, clocking the fastest pace since late 2011, the Commerce Department reported Friday.

Gross domestic product surged at annual rate of 4.6%, the department said, revising the previous 4.2% estimate.

The revision matched economists’ expectations as data shows the economy built momentum in a rebound from the first quarter’s 2.1% contraction, when severe winter weather battered the economy. Read more here.