Posted at 11:49 AM
The U.S. Commerce Department’s Bureau of Economic Analysis today reported in their second estimate of gross domestic product (GDP) that real GDP increased at an annual rate of 4.2 percent in the second quarter of 2014.
“Today’s second estimate of real GDP upholds initial data showing that economic growth was strong in the second quarter of this year,” said U.S. Secretary of Commerce Penny Pritzker. “Our economy continues to make positive strides, but we must do all we can to build on this momentum by continuing to facilitate investment in American manufacturing, infrastructure and innovation, as President Obama has called for. Through our ‘Open for Business Agenda’, the U.S. Commerce Department will continue supporting President Obama’s efforts to expand export opportunities, increase investment in the United States, strengthen American manufacturing, ensure our workers have the skills to get jobs businesses need to fill, unleash more of our data, and provide businesses and communities with environmental intelligence, all of which helps create jobs and keep America more competitive in the global economy.”