The economy snapped out of a sluggish spell and grew at a 3.4 percent pace in the second quarter, the strongest showing in more than a year, the Associated Press reported. A revival in business spending was a main force behind the energized performance.

The new reading on gross domestic product, released by the U.S. Commerce Department this morning, marked a big improvement from the first three months of this year, when economic growth fell to just a 0.6 percent pace, the slowest in more than four years.

Stronger spending by businesses and government powered the rebound in the April-to-June quarter. Individuals, however, tightened their belts as they coped with high gasoline prices and the effects of the housing slump. The sour housing market continued to weigh on national economic activity in the spring but not nearly as much as it had in previous quarters.

Gross domestic product measures the value of all goods and services produced in the United States. It is considered the best barometer of the country’s economy.