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The U.S. economy grew at the fastest pace in nearly four years this spring, reflecting broad-based momentum that suggests the second-longest expansion on record isn’t yet running out of fuel.
Robust consumer spending, solid business investment, surging exports and increased government outlays were among the factors that boosted gross domestic product—the value of all goods and services produced across the economy—at a seasonally and inflation-adjusted annual rate of 4.1% in the second quarter, the Commerce Department said Friday.
That was up from the first quarter’s revised growth rate of 2.2% and the strongest growth since the third quarter of 2014.
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