BUSINESS
09/26/2014 08:33 am ET Updated Sep 26, 2014

U.S. Economy Grew 4.6 Percent In Second Quarter

Bloomberg via Getty Images

The U.S. economy grew at a rate of 4.6 percent in the second quarter, according to gross domestic product numbers released Friday morning by the Bureau of Economic Analysis.

It represents the fastest rate of growth since the last three months of 2011 as companies increased investments and households spent more, Bloomberg reported.

The figure, up from 2.5 percent growth in the same period last year, was revised up from a previous estimate of 4.2 percent in August.

Spending on personal consumption increased 2.5 percent in the second quarter, up from 1.2 percent in the first. Durable goods, such as cars, homes and electronics jumped 14.1 percent, compared with an increase of 3.2 percent in the last quarter. Consumable goods, such as food and water, remained flat at 2.2 percent.

The outlier was services -- such as gym memberships or daycare -- which increased 0.9 percent, down from 1.3 percent in the first quarter.

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