The U.S. economy expanded at a faster pace than initially thought in the second quarter of 2015 as businesses ramped up investment but also built up inventories, offering mixed signals for growth prospects the rest of the year.
Gross domestic product, the broadest sum of goods and services produced across the economy, expanded at a 3.7% seasonally-adjusted annual rate in the second quarter of 2015, according to figures released Thursday by the U.S. Commerce Department, up from the initial estimate of 2.3% growth.
Economists had forecast a 3.3% rate.
The economy appears to be following a similar pattern to 2014, with a stumble at the start of the year followed by a relatively strong rebound. But the overall story has been one of modest growth, with full-year GDP advancing from 1.5% to 2.4% each of the past four years.
