HOLY COW

U.S. Economy Grew 4% in Spring

The U.S. economy roared back in the second quarter of 2014, growing at an annualized rate of 4 percent. The news came after a dismal first-quarter report that saw the economy shrink by 2.1 percent—a figure that today was revised down from 2.9 percent. The Commerce Department pointed to increases in consumer spending and exports as contributing to growth. The strong quarter also solidified belief among experts that the first quarter’s drop was a one-off event, mostly the result of terrible winter weather.