GDP Rose 4.2% in Second Quarter

Washington, DC, Aug. 28, 2014 — The government’s estimate for second quarter economic growth was revised higher to 4.2%.

The Bureau of Economic Analysis released its second estimate of real gross domestic product for the second quarter showing output increasing at an annual rate of 4.2%, up from an initial estimate of 4.0%.

First quarter GDP declined a sharp 2.1%.

The revision, BEA said in a press release, was mostly due to a larger than previously estimated increase in nonresidential fixed investment.