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Associated Press

US Economy Surges to 4.1 Percent Growth Rate in Q2, Best Showing Since 2014

07-27-2018
economy2

WASHINGTON (AP) - The U.S. economy surged in the April-June quarter, growing at an annual rate of 4.1 percent. That's the fastest pace since 2014, driven by consumers who began spending their tax cuts and exporters who sought to get their products delivered ahead of retaliatory tariffs.

The Commerce Department reports that the gross domestic product, the country's total output of goods and services, posted its best showing since a 4.9 percent gain in the third quarter of 2014.

President Donald Trump predicts growth will accelerate under his economic policies. But private forecasters cautioned that the April-June pace is unsustainable because it stems from temporary factors. The rest of the year is likely to see good, but slower growth of around 3 percent.

(Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

 

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