Gross National Product Topped 3.1 Percent in Second Quarter

(CN) — The U.S. economy grew at an annual rate of 3.1 percent in the spring, the fastest pace in more than two years, the Commerce Department said Thursday.

The revised numbers are up slightly from a 3 percent growth estimate for April through June the government made last month.

However, it is widely expected that growth of the nation’s gross domestic product — the economy’s total output of goods and services — fell off sharply in the third quarter due to a rash of devastating hurricanes.

In the meantime, the revision for the second quarter is the strongest performance since the economy grew at a 3.2 percent pace in the first quarter of 2015.

The year started with a lackluster 1.2 percent gain in the first quarter. Economists believe growth has slowed again to around 2 percent in the current quarter.

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