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Economy in U.S. grew 4.6% in second quarter, most since 2011

The U.S. economy expanded in the second quarter at the fastest rate since the last three months of 2011 as companies stepped up investment and households boosted spending.

By Victoria Stilwell, Bloomberg | Updated on September 26, 2014
(Bloomberg) — The U.S. economy expanded in the second quarter at the fastest rate since the last three months of 2011 as companies stepped up investment and households boosted spending.

Gross domestic product grew at a revised 4.6 percent annualized rate, up from a previous estimate of 4.2 percent, Commerce Department data showed today in Washington. The increase matched the median forecast of 81 economists surveyed by Bloomberg and followed a 2.1 percent decline in the first three months of the year.

Busier assembly lines at the nation’s factories and job growth that’s kept Americans spending indicate companies are a bit more upbeat about the prospects for demand. As the world’s largest economy and labor market improve, Federal Reserve policy makers are debating how much longer to keep interest rates near zero.

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