US GDP grows 4.1 percent in Q2
The US economy posted the fastest annual growth rate in almost four years and the strongest among industrialised nations, according to government data released Friday.
WASHINGTON, (Pakistan Point News - 27th Jul, 2018) The US economy posted the fastest annual growth rate in almost four years and the strongest among industrialised nations, according to government data released Friday.
Gross Domestic Product expanded by an annual rate of 4.
1 per cent during Q2, matching analyst expectations, as Americans bought more cars and as foreign sales of oil and soybeans, which now face Chinese tariffs, gave exports the biggest boost in more than four years, the US Commerce Department reported.
The result showed the world's largest economy - now valued at US$20 trillion - was in robust health, in part accelerating after the injection of stimulus and tax cuts by President Donald Trump and Republican lawmakers.