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 Entertainment

REVIEW: ‘Wild’ is both unsettling and triumphant

This image released by Fox Searchlight Pictures shows Reese Witherspoon in a scene from the film, "Wild."

Reese Witherspoon leaves her comfort zone as real-life hiker Cheryl Strayed in "Wild."

in Entertainment

Cameron Diaz engaged to Good Charlotte star

camerondiaz

The "Charlie's Angels" star is reportedly planning to marry Benji Madden.

in Entertainment

MOVIES: 25 Days of Christmas Films

James Stewart, center, is reunited with his wife, Donna Reed, left, and children during the last scene of Frank Capra's "It's A Wonderful Life".

Count down to Christmas with these 25 festive holiday movies.

in Black Friday, Entertainment

‘TIS THE SEASON: Holiday specials, bowl games this weekend

Elf

Here's a look at Christmas classics, holiday favorites, and sports specials airing this weekend.

in Viral Videos

WATCH: The ‘Force’ is strong with this home

11-overlay

If you weren't already excited for the next "Star Wars" movie, this house will change your mind.