The U.S. economy expanded at a much faster rate in the second quarter than originally estimated, prompting the Commerce Department to announce Thursday that America's GDP boasted a 3.7 percent annual pace of expansion from April to June. Initially, the estimate was much lower: 2.3 percent growth.
Economists surmise that the 2015 economy is following a pattern similar to 2014, with "a stumble at the start of the year followed by a relatively strong rebound," The Wall Street Journal says. Following a tumultuous week in the stock markets, Reuters says that the rosier-than-expected picture of the U.S. economy should offer assurance that the U.S. can "weather the growing strains in the world economy."
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