WASHINGTON — The U.S. economy grew at an upgraded annual rate of 3.1% in the spring, the fastest pace in more than two years. But growth is expected to slow sharply this quarter in the wake of a string of devastating hurricanes.
The April-June expansion in the gross domestic product — the economy’s total output of goods and services — is up slightly from a 3% estimate made a month ago, the Commerce Department reported Thursday. It is the strongest performance since the economy grew at a 3.2% pace in the first quarter of 2015. The upward revision reflected larger farm stockpiles.