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.

Latest Headlines

in Local

Michaud Says He Has $560K Cash in Governor’s Race

mike_michaud

PORTLAND, Maine (AP) _ Democratic candidate for governor Mike Michaud has raised nearly $440,000 in the latest reporting period ending Oct. 21. His campaign says that brings his fundraising total to $2.85 million.

in Local

Scattered Showers in Maine After Heavy Rain, Wind

Newsradio WGAN

PORTLAND, Maine (AP) _ A powerful storm that has been soaking Maine for more than 48 hours has lived up to expectations.

in Local

Maine CDC Launches Ebola Preparedness Website

C

Maine is launching a new website about preparedness and response to suspected cases of Ebola virus.

in Local

Mount Vernon Man Faces Weapons Charge

GENERIC BULLETS 2

MOUNT VERNON, Maine (AP) — A Mount Vernon man is facing a weapons charge after police conducting a search at his home say they found more than a dozen firearms inside.

in Trending, Viral Videos

TODAY’S MUST SEE: Spooky ‘Shining’ inspired IKEA commercial

17-overlay2

You'll never aimlessly wander the floors of IKEA the same way again.