U.S. Second-quarter Growth Revised up to Brisk 4.6 Percent Pace

The U.S. economy grew at its fastest pace in two and a half years in the second quarter and activity was broad-based, in a bullish signal for the remainder of the year. The Commerce Department on Friday raised its estimate of gross domestic product to show the economy expanded at a 4.6 percent annual rate. The best performance since the fourth quarter of 2011 reflected a faster pace of business spending and sturdier export growth than previously estimated.