abc
QUICK LINKS:

U.S. Economy Rebounds From Tough Winter

Created: 07/30/2014 11:19 AM KAALtv.com

WASHINGTON (AP) - After a dismal winter, the U.S. economy sprang back to life in the April-June quarter, growing at a fast 4 percent annual rate on the strength of higher consumer and business spending.

The Commerce Department says the second-quarter rebound followed a sharp 2.1 percent annualized drop in economic activity in the January-March quarter. That figure was revised up from a previous estimate of a 2.9 percent decline. But it was still the biggest contraction since early 2009 during the depths of the Great Recession.

Last quarter's rebound was broad-based, with consumers, businesses, the housing industry and state and local governments all combining to boost growth.

Economists expect that momentum to continue in the second half of this year, when they forecast growth of around 3 percent.

Photo: MGN


Winter Weather Advisory

MN AREAS AFFECTED: Dodge; Olmsted; Winona
Expires: 2/1/2015 9:00 PM

Winter Weather Advisory

MN AREAS AFFECTED: Fillmore; Houston; Mower
Expires: 2/1/2015 9:00 PM

Winter Weather Advisory

MN AREAS AFFECTED: Blue Earth; Faribault; Freeborn; Martin; Steele; Waseca; Watonwan
Expires: 2/1/2015 12:00 PM

Winter Storm Warning

IA AREAS AFFECTED: Allamakee; Howard; Mitchell; Winneshiek
Expires: 2/1/2015 9:00 PM

Winter Storm Warning

IA AREAS AFFECTED: Chickasaw; Clayton; Fayette; Floyd
Expires: 2/1/2015 9:00 PM

Winter Storm Warning

IA AREAS AFFECTED: Adair; Adams; Appanoose; Audubon; Black Hawk; Boone; Bremer; Butler; Calhoun; Carroll; Cass; Cerro Gordo; Clarke; Crawford; Dallas; Davis; Decatur; Emmet; Franklin; Greene; Grundy; Guthrie; Hamilton; Hancock; Hardin; Humboldt; Jasper; Kossuth; Lucas; Madison; Mahaska; Marion; Marshall; Monroe; Palo Alto; Pocahontas; Polk; Poweshiek; Ringgold; Sac; Story; Tama; Taylor; Union; Wapello; Warren; Wayne; Webster; Winnebago; Worth; Wright
Expires: 2/1/2015 9:00 PM