LoginEconomists revealed that the U.S. experienced strong growth on the job front during the second quarter of 2014. According to Reuters, the economy has not only rebounded at a stronger rate than early predictions, but it is also expected to continue strengthening throughout the remainder of the year.
"We expect growth during the latter half of the year to continue running at an above three percent pace, underscoring the rebound in growth momentum as economic slack continues to decline," Gennadiy Goldberg, an economist at TD Securities, told Reuters.
The White House reported that the real gross domestic product increased 4.2 percent in the second quarter – something economists attributed to a growth in consumer spending, increased investments and improved weather. The source noted that experts were initially concerned with the declined growth experienced in the first quarter of 2014 – wherein the GDP declined by 2.1 percent – but the figures from the second quarter have allowed them to remain optimistic about the remaining quarters.
Another notable finding from the report was that residential investment rose 7.2 percent this quarter, an impressive figure considering the number was negative for the two years prior.