SPOKANE, Wash. - Economists say the U.S. economy is back, and in a big way.
That's because U.S. Gross Domestic Product grew a whopping 4% in the second quarter.
GDP is the best measure of the economy's health. It's a tally of all U.S. goods and services.
And that 4% is even better than what economists were expecting.
Economists say it also means that the decline we saw in the economy earlier this year can be blamed mostly on bad weather. But, even that number wasn't as bleak as first reported.
It turns out the economy declined 2.1% in the first three months of the year, not the 2.9% as originally thought.
So what changed in the second quarter?
Economists say Americans emerged from a frigid winter ready to spend. Consumer spending, which makes up about two-thirds of economic activity, ramped up this spring. People were spending money on big ticket items like cars, appliances and furniture.
And Americans weren't the only ones buying. Foreign countries grabbed up U.S. exports.
Business investments were also up.
And the second quarter GDP numbers could mark the end of a strange disconnect. The first six months of 2014 experienced the strongest hiring in eight years, while the economy didn't even grow.
Experts believe this report could signal that the overall economy is back on track.
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