The U.S. economy received some good news on Friday: GDP grew at 2.6 percent in the second quarter, more than double the 1.2 percent rate of the first quarter.
The U.S. economy is growing, and at a much faster rate than at the beginning of the year.
That’s the gist of a new report from the Bureau of Economic Analysis (BEA), released on Friday morning:
Real gross domestic product increased at an annual rate of 2.6 percent in the second quarter of 2017 (table 1), according to the “advance” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 1.2 percent (revised).
It’s the best quarter of GDP growth for the U.S. since the third quarter of 2016, and the second-best quarter overall in the last two years.
Some voiced skepticism when President Trump promised three-percent GDP growth during his presidency, but this second-quarter figure is far closer to the mark than the first quarter of the year, and only decimal points away from three percent.
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