U.S. Economy Grew at 4% Rate in Q2, Beating Expectations

The United States economy rebounded heartily in the spring after a dismal winter, the Commerce Department reported on Wednesday, growing at an annual rate of 4 percent from April through June.In its initial estimate for the second quarter, the government cited major gains in inventories for private businesses as well as exports and personal consumption spending that added to the growth. Economists, who had been hoping for a full reversal of the first quarter’s decline, were thrilled with the second quarter’s numbers.