Second quarter economic growth in U.S. surpasses expectations

The U.S. economy had a strong second quarter, an economic performance which surpassed the hopes of many expert economists. The quarter saw growth at a rate of 4.2 percent, according to USA Today. The government made a statement regarding the growth on August 28. The 4.2 percent growth is derived from the overall increase in the gross domestic product of the U.S. in the second quarter of 2014.

This surpassed the expectations of experts – the source noted that economists expected the rate of growth in the second quarter to be 3.9 percent. Businesses were the impetus for the growth, as they provided an 8.4 percent investment in the economy. This was a larger-than-expected contribution from businesses. The estimated figure of business investment during the second quarter was 5.5 percent. The actual figure was a significant increase, helping to give the U.S. economy a boost.

The growth was also rapid in comparison to recent quarters. The last time the U.S. economy grew as quickly as it did in the second quarter of 2014, according to the BBC News, was in the third quarter of 2013.

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