U.S. economy rebounds

Growth of 4% suggests economy has recovered from downturn driven by a severe winter.

The U.S. economy expanded more than expected in the second quarter, as the nation rebounded from a severe winter as a result of broad growth from many pockets of the economy.

Real gross domestic product, or the output of goods and services produced by U.S. labor and property, climbed at a seasonally adjusted annual rate of 4% in the second quarter. The Commerce Department reported the increase was primarily due to positive contributions from personal consumption expenditures, as well as private inventory investment, exports, state and local government spending and residential fixed investment.

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