U.S. Economy Accelerated At Rate Of 4.1 Percent
Sunday, July 29th, 2018 -- 11:31 AM
The U.S. economy accelerated last quarter at an annual rate of 4.1 percent, the government estimated Friday, as consumers spent tax-cut money, businesses stepped up investment and exporters rushed to ship their goods ahead of retaliatory tariffs.However, most economists took issue with that forecast, saying the pace of growth in the April-June quarter won't likely last in the months ahead. The Commerce Department said the gross domestic product ??" the total output of goods and services produced in the United States ??" posted its best showing since a 4.9 percent annual increase in the third quarter of 2014. Forecasters cautioned that the April-June pace was due mainly, though not entirely, to temporary factors.
Most analysts are forecasting that growth this year could reach 3 percent, which would be the best since a 3.5 percent gain in 2005. But many think the annual 4.1 percent growth rate last quarter is likely the high point for any one quarter. Many think annual growth in the second half of this year will be 2.5 percent to 3 percent.
Feel free to contact us with questions and/or comments.