Friday, July 27, 2018

Economy grew at 4.1 percent in 2nd quarter

Great economic news! Let's keep it going!

From Fox Business:
U.S. gross domestic product advanced by 4.1% in the second quarter, the fastest pace of economic expansion since 2014 – when third-quarter growth reached 5.2%.

President Trump said ahead of the growth reading that he would be “happy” with a quarterly GDP reading of at least 4%. Trump has previously pledged that annual U.S. GDP growth would come in above 3%.

The Trump administration has implemented pro-growth policies, including a sweeping tax reform package meant to bolster businesses. The last time annual GDP growth was above 3% was in 2005 when it came in at 3.3%. George W. Bush was president when the U.S. economy hit this growth rate. The best annual GDP reading under President Barack Obama was 2.9%.

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