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

17 hours ago in Entertainment

OPENING WEEKEND: ‘Mother’s Day,’ Key & Peele comedy ‘Keanu’ hit theaters

22-overlay-9

Here's a look at some of the films set to open this weekend.

17 hours ago in Entertainment

WHAT’S ON: New on Netflix, Amazon & Hulu this May

netflixAP

It's going to be a great weekend for some binge-watching.

19 hours ago in Entertainment

Alicia Vikander to play Lara Croft in ‘Tomb Raider’ reboot

vikanderREUTERS

The Swedish Oscar winner follows in the footsteps of Angelina Jolie to play the famed adventurer.

21 hours ago in Entertainment

‘Angry Birds,’ apps to go hand-in-hand at the movies

21-overlay-15

Creators of the upcoming "The Angry Birds Movie" movie will ask audiences to whip out their phones during the end credits and point them at the screen.

22 hours ago in Music

Martina McBride cuts her hair for ‘Reckless’

24-overlay-7

She says it was no big deal and it was such a great metaphor for the idea of being reckless.