GDP grew at a 2.4% pace in the second quarter, topping expectations despite recession calls

The U.S. economy showed few signs of recession in the second quarter, as gross domestic product grew at a faster than expected pace during the period, the Commerce Department reported Thursday.

GDP, the sum of all goods and services activity, increased at a 2.4% annualized rate for the April-through-June period, better than the 2% consensus estimate from Dow Jones.

Markets initially moved little following the report, with stocks poised for a higher open and Treasury yields on the rise.

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