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

Maine Ends Fiscal Year with Nearly $60 Million Surplus

Updated
MONEY PILE LARGE SIZE

Maine officials say the state ended the fiscal year on June 30 with a surplus of nearly $60 million.

in Local

Maine Court: Anti-Gay Marriage Group Must Disclose Donors

WGAN IMAGE

Maine's highest court has rejected a national anti-gay marriage group's latest effort to shield the donors who backed its effort to repeal Maine's gay marriage law.

in Local

Texas Man Sentenced to 14 Years for Transporting Child Porn

GENERIC COURT LARGE

A federal judge in Maine is ruling that a Texas man will spend 14 years in prison for transporting child pornography.

in Local

Maine Landlord in Fatal Fire Case Due in Court in November

Noyes St Fire

The owner of a Portland, Maine, apartment building where six people died in a fire is due back in court on Nov. 20.

in Local

Nova Star Ferry Gets New Winter Route in Europe

Nova Star Ferry 111213

The Nova Star ferry that transports passengers between Maine and Nova Scotia in the summer and fall has secured a new winter route.

Tweets

  • 25m
  • 1h
  • 1h
  • 2h
  • 2h
  • 2h
  • 2h