Sunday, July 29, 2018

KABOOM! U.S. Economy Explodes With 4.1% Growth Rate

Ralph Freso/Stringer/Getty Images
The U.S. economy exploded in the second quarter of 2018, with the gross domestic product (GDP) climbing 4.1% — nearly doubling the first quarter, which was revised up to 2.2%.
The booming rate is the highest since the third quarter of 2014 and just the third-highest since the Great Recession began in 2008. The running four-quarter average is 3.1%, considered by economists to be a very strong number.
In Q2 of 2018, consumer spending grew 4%, while nonresidential business investment jumped 7.3%, both also considered strong numbers.
Trump took a victory lap on the White House's South Lawn, telling reporters that the high numbers are "sustainable."
"We're going to go a lot higher," Trump said. "As the trade deals come in one by one, we're going to go a lot higher than these numbers, and these are great numbers. --->
Read the rest of the story HERE.

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