In their second estimate of the US GDP for the second quarter of 2014, the Bureau of Economic Analysis (BEA) reported that the economy was growing at a +4.18% annualized rate, up about a quarter of a percent from their previous estimate. When compared to the prior quarter, the new measurement is now up about 6.3% from a -2.11% contraction rate for the 1st quarter of 2014. This is the largest positive quarter to quarter improvement in GDP growth in 14 years.
The largest positive revisions to the growth contributions during the 2nd quarter growth were in commercial fixed investments (+0.34%), imports (+0.11%), exports