The economy grew more than previously estimated.
The U.S. economy grew at a 4.6 percent annualized clip in the second quarter, according to the third and final estimate from the Bureau of Economic Analysis. The Commerce Department agency raised its estimate from 4.2 percent after obtaining more complete data from businesses and other institutions.
Gross domestic product went 2.1 percent into negative territory in the first quarter, as severe winter weather slowed normal transportation and business operations, and restrained shopping activity by consumers.
Exports, consumer spending, non-residential fixed investment and state and local government spending helped drive productivity. Exports in the second quarter increased 11.1 percent compared to a 9.2-percent drop in the first quarter.
U.S. economy accelerated 4.6% in 2Q
