GDP at highest growth rate in a year

Measure of nation's economic activity revised up to 4.0 percent annual growth rate from earlier estimate of 3.4 percent.


NEW YORK (CNNMoney.com) -- The U.S. gross domestic product came in at a 4.0 percent annual rate of growth for the second quarter, showing the highest growth rate in more than a year, according to the Commerce Department.

Economists surveyed by Briefing.com expected the GDP to be revised up to 4.1 percent for the quarter from April through June 30, from its previous estimate of 3.4 percent.

The GDP is the broadest measure of the nation's economic activity.

International trade and business investment were strong, while housing showed continued weakness.

An earlier version of this story indicated the revised GDP number for the second quarter was 4.1 percent. The actual reading was 4.0 percent. CNNMoney.com regrets the error.  Top of page

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