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.

Recent Headlines

in Entertainment

REVIEW: ‘Vacation’ is a fun road trip for a new generation

18-overlay7

Rating: R | Run time: 99 min. | Genre: Comedy | Starring: Ed Helms, Christina Applegate, Skyler Gisondo, Steele Stebbins…

in Entertainment

Conan O’Brien accused of stealing jokes

20-overlay8

The late night host is being sued for allegedly lifting gags from Twitter.

in Music

Rolling Stones rocker Keith Richards to be subject of new documentary

keithrichards

"Keith Richards: Under the Influence" will premiere on Netflix in September.

in Entertainment

‘Empire’ star sued for alleged abuse

terrencehoward

Terrence Howard's ex-wife is suing for assault and battery, and intentional and negligent infliction of emotional distress, and seeking an unspecified amount in damages.

in Entertainment

‘Married … With Children’ spinoff in the works

marriedwithchildren

Actor David Faustino is developing a spinoff featuring original stars Christina Applegate, Ed O'Neill, and Katey Sagal.