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WASHINGTON | US economy grew at a brisk 4.2 pct. annual rate last quarter

WASHINGTON | US economy grew at a brisk 4.2 pct. annual rate last quarter

WASHINGTON — The U.S. economy grew at a strong 4.2 percent Annual Rate in the April-June quarter, the best showing in nearly four years, as growth stayed on track to produce its strongest full-year gain in more than a decade. Strength in business investment offset slightly slower consumer spending.

The Commerce Department on Wednesday revised up its growth estimate for last quarter from an initial estimate of a 4.1 percent annual rate. The second quarter marked a sharp improvement from a 2.2 percent gain in the January-March period, though some of the strength last quarter came from temporary factors, including a surge in U.S exports before tariffs were to take effect.

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WASHINGTON | US economy grew at a brisk 4.2 pct. annual rate last quarter

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