Economy notches 4.2% growth in Q2

[WASHINGTON] The US economy rebounded more strongly than initially thought in the second quarter, with more of the growth being driven by domestic demand and less by restocking by businesses.

Gross domestic product expanded at a 4.2 per cent annual rate instead of the previously reported 4.0 per cent pace, reflecting upward revisions to business spending and exports, the Commerce Department said on Thursday.

It was the fastest pace since the third quarter of 2013.