The U.S. economy’s better-than-expected expansion in the second quarter fueled optimism that growth was back on an upward trajectory, allaying fears that the recovery might have been derailed during a sharp winter slowdown.
“An inflection point in the economy may have been reached,” said Sung Won Sohn, an economist at Cal State Channel Islands. “Finally, it looks like the economy is on a sustained growth path.
FOR THE RECORD
An earlier version of this post stated that the economy expanded at a 2.6% annual rate in the fourth quarter of 2013. The economy expanded at a 3.5% annual rate. Also, an earlier version...