American GDP up 4.2pc in second quarter after 2.1pc first quarter decline
AMERICAN gross domestic product grew 4.2 per cent in the second quarter, according to the US Commerce Department after the first quarter delivered a 2.1 per cent decline.
New growth was attributed to robust exports, which increased 10.1 per cent in the second quarter, compared to a decrease of 9.2 per cent in the first quarter.
The negative growth in the first quarter is expected to hold down the annual growth figure for 2014.
National Association of Manufacturers (NAM) economist Chad Moutray, predicts GDP growth of 2.8 per cent in the third quarter and three per cent for the second half of the year.