U.S. economy records fastest growth in 2 years
Wed Aug 30 2017
Lucy Harlow (3600 articles)

U.S. economy records fastest growth in 2 years


The U.S. economy picked up steam during the second quarter, notching the fastest pace of growth in two years.During the first full quarter with President Trump in charge, economic growth hit 3%, according to revised estimates released by the government on Wednesday.
That’s the strongest growth since the first quarter of 2015. It’s more than double the pace of the first three months of 2017 and better than original estimates for the second quarter. The government initially pegged second-quarter growth at 2.6% in July.

The economic momentum was driven by stronger consumer spending and healthier business investment.

Related: The potential economic costs of Harvey

Trump promised 4% growth on the campaign trail, but his administration has since set a goal of 3%.

The White House wants to speed up the sluggish recovery from the Great Recession by cutting taxes, slashing deregulation and ramping up infrastructure spending. So far, Trump’s economic agenda has not made it through Congress.

Lucy Harlow

Lucy Harlow

Lucy Harlow is a senior Correspondent who has been reporting about Commodities, Currencies, Bonds etc across the globe for last 10 years. She reports from New York and tracks daily movement of various indices across the Globe

Discussion

Rules of Discussion on Live Index

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.