The United States economy grew at its fastest pace in the second quarter since 2011, expanding at an annual rate of 4.6 percent from April to June, the Department of Commerce reported.

Following a weak first quarter, the report in the second quarter shows a positive sign that the economy will be strong  for the rest of the year.

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According to economic analysts, though it's a good sign that the economy is recovering, some say it's too early to jump into conclusions.

After an economy freeze, which forced several businesses to close, the U.S. economy is finally rebounding, but according to Greg McBride, senior financial analyst of Bankrate.com, it's too soon to celebrate.

"It's nice to see the economy bouncing back," McBride said. "But once in a row is not a streak."

Additionally, he said that the report in the following quarters will show whether the positive trend will continue, or if it is only a one time thing.

However, even if the economy continues to expand in the third and fourth quarters of 2014, the massive decline in the first quarter will make it difficult for the Gross Domestic Product (GDP) to be better than last year's increase rate of 2.2 percent.

In a statement released by senior fellow David Stockton, of the Peterson Institute for International Economics, he said the second quarter's pace suggested that the economy is on an upward trend but was moving at a moderate pace.

He added that businesses in the U.S. are in the process of increasing its investment spending.

According to Stockton, investment spending and increase in exports is beneficial for the economy and the job market.

However, despite the increase in employment rate in 2013, employee compensation remains stagnant, an issue that McBride believes will soon change.

According to McBride, the job market is showing a more continues trend of expansion than the country's economic growth, which suggests more employment opportunities with higher pay.

TagsUS economy, US finance, government