Economy Grew At Solid 2.2% Pace In Second Quarter

WASHINGTON (AP) — The U.S. economy grew at a solid 2.2% pace from April through June as consumer spending and business investment came in strong. Growth in gross domestic product — the nation’s output of a goods and services — decelerated slightly a 2.5% pace from January through March, the Commerce Department reported Wednesday. The second-quarter growth number was an improvement on the department’s previous estimate of 1.5%. Consumer spending — which accounts for about 70% of U.S. economic activity — increased at a healthy 3.8% annual pace, up from 0.7% in the January-March period.