Second Quarter Growth Revised Higher Again
Washington, DC, Sept. 26, 2014 -- The U.S. economy grew at an annual rate of 4.6% in the second quarter, according to the Commerce Department.
That was the fastest pace in more than two years and was higher than the estimate of 4.2% made a month ago and the initial estimate of 4.0%.
The upward revision was due to improvements in business investment and exports.
Business investment grew at an annual rate of 9.7% in the second quarter, helped by both investment in structures and equipment.
Also, export sales grew at an 11.1% rate, up from the previous 10.1% estimate.
Consumer spending grew at a 2.5% annual rate, unchanged from the previous estimate.