In the second quarter, the U.S. economy grew at an annualized rate of 4.1%

[DigitalDrifter]

The second quarter was big for the U.S. economy.

In the second quarter, the U.S. economy grew at an annualized rate of 4.1%, almost double the 2.2% growth rate seen to start the year.

This marks the fastest pace of growth for the U.S. economy in any quarter since the third quarter of 2014.

This rate of growth, however, was less than what was forecasted by economists. Economists polled by Bloomberg expected the report to show the economy grew at an annualized rate of 4.2% in the second three months of the year.

President Donald Trump, however, will be pleased by Friday’s report, as the President said of the GDP number at an event on Thursday, “If it has a 4 in front of it, we’re happy.”

Paul Ashworth, chief US economist at Capital Economics, said Friday, “Overall, helped by the massive fiscal stimulus, the economy enjoyed a strong first half of this year but, as the stimulus fades and monetary policy becomes progressively tighter, we expect GDP growth to slow markedly from mid-2019 onwards.”

U.S. economy grows at the fastest pace since 2014

 

[Auld Phart]

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