GDP UP!, JOBS UP!

by Reuters
August 30, 2017

The U.S. economy grew faster than initially thought in the second quarter, notching its quickest pace in more than two years, and there are signs that the momentum was sustained at the start of the third quarter.

Gross domestic product increased at a 3.0 percent annual rate in the April-June period, the Commerce Department said in its second estimate on Wednesday. The upward revision from the 2.6 percent pace reported last month reflected robust consumer spending as well as strong business investment.

Growth last quarter was the best since the first quarter of 2015 and followed a 1.2 percent pace in the January-March period. Economists had expected that second-quarter GDP growth would be raised to a 2.7 percent rate.

Retail sales and business spending data so far suggest the economy maintained its stamina early in the third quarter. Economists saw a limited impact on growth from Hurricane Harvey, which devastated parts of Texas.

3 Comments - what are your thoughts?

  • roboteq says:

    Americans are less afraid to spend money when we have leadership that works on our behalf rather than for some political agenda.

  • Janis says:

    Thank you President Trump. I guess the American people feel confidence in this administration. Too bad Dems and the MSM. Try as you may, your spiteful, childish actions are failing.

    1. LLuke47 says:

      And we must make sure the hateful anti-Trump media fails miserably. How dems can say they support the working people and do the things they do that hurts them is beyond me and I know they are lying..

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