GDP Rose 4.2% in Second Quarter
Washington, DC, Aug. 28, 2014 -- The government's estimate for second quarter economic growth was revised higher to 4.2%.
The Bureau of Economic Analysis released its second estimate of real gross domestic product for the second quarter showing output increasing at an annual rate of 4.2%, up from an initial estimate of 4.0%.
First quarter GDP declined a sharp 2.1%.
The revision, BEA said in a press release, was mostly due to a larger than previously estimated increase in nonresidential fixed investment.