Second-Quarter GDP Grows at 4%

The economy expanded at a 4% annual rate in the second quarter, up from a previous report, the Commerce Department said Thursday.

A previous Commerce report issued in late July put second-quarter GDP growth at 3.4%.

The 4% upturn followed a 0.6% gain in the first quarter and was just short of economists’ forecasts of a 4.1% increase, Bloomberg reported.

The release was the second of three that Commerce will release. It will again revise second-quarter GDP next month.