Friday, 27 July 2018

US economy grew at its fastest pace in nearly four years in the second quarter


 
The US economy grew at its fastest pace in nearly four years in the second quarter, expanding at an annualised rate of 4.1%, official figures show.

 
The gains were driven by strong consumer spending, business investment and a surge in exports as firms rushed to beat new trade tariffs.


US President Donald Trump described the acceleration as "amazing", claiming it as proof his policies are working.


But many analysts cautioned that growth could cool in coming months.


"In one line: Looks great; won't last," wrote Ian Shepherdson, chief economist at Pantheon Macroeconomics.




BBC      News.