GDP Rose 4% in Second Quarter, Surpassing Expectations

The U.S.’s gross domestic product rose 4% in the second quarter of 2014, surpassing economists’ expectations of 3% and adding further proof that the economy is picking up steam.

The GDP shrinkage of the first quarter was also revised down from -2.9% to -2.1%; likewise, today’s number is provisional and subject to later revision.

The GDP’s rise tracks more closely to the recent uptick in employment than did its drop. The economy has experienced five straight months of 200,000-plus job growth, a streak not seen since the tech boom of the 90s, but a streak that didn’t make a whole lot of sense when paired with the first quarter GDP decline.

Read the full report here, via the Bureau of Economic Analysis

[Image via screengrab]

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