Economy resilient despite gas prices

(CNN)– The U.S. economy was remarkably resilient this Spring despite higher gas prices.

In the second quarter, gross domestic product grew at 2.2%.

That’s a sharper rebound than the one-and-a-half percent rate previously estimated.

Stronger consumer spending and business investment helped power the growth.

According to consensus estimates from “Factset” economists were expecting the prior reading to hold.

Still, last quarter’s GDP reading is lower than the first quarter, that’s when the economy grew at a two-and-a-half percent annualized pace.