GDP grew 4.6 percent in second quarter

The Commerce Department this morning said the GDP increased at an annual rate of 4.6 percent in the second quarter of the year.

That followed a 2.1 percent drop in the first quarter, and marked the fastest rate increase since 2011.

The department, in a news release, said the increase in the second quarter primarily reflected positive contributions from personal consumption expenditure), exports, private inventory investment, nonresidential fixed investment, state and local government spending, and residential fixed investment.