Economy Grows More Than Expected in Q2

Washington, DC, July 30, 2014 -- Gross domestic product rose more than expected in the second quarter, according to the Commerce Department.

GDP grew at a 4.0% annual rate, the government said. In addition, the contraction in the second quarter was revised to 2.1% from the initial estimate of 2.9%.

Economists had forecast the economy growing at a 3.0% rate in the second quarter.

Overall, the economy grew 0.9% in the first half of the year.

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