Gross domestic production (GDP) came in hot in the second quarter, growing at a 2.4 percent rate that marked the fourth straight quarter of positive growth and underlining the resilience of the U.S. economy. Economists polled by Bloomberg had been expecting GDP growth of around 1.8 percent, meaning the 2.4 percent growth was a pleasant surprise — especially with other recent data indicating slowing inflation. The numbers from the Commerce Department are the latest sign of strength in the U.S. economy and come a day after the Federal Reserve reversed its March prediction of a “mild recession” to hit later this year. ... (full story)