U.S. economy accelerated during first full Trump quarter

posted by Jay Weber - 

via CNN/Money by  Matt Egan 

The U.S. economy gathered momentum during the first full quarter with President Trump in charge.

Economic growth accelerated to an annual rate of 2.6% from April through June, the government said Friday. That was about what economists had expected.

Second-quarter growth more than doubled the sluggish pace from the first three months of the year. First-quarter economic growth was revised down to 1.2%.

The economy gained steam in part because of stronger consumer spending, according to the Commerce Department. Helped by the strong job market, personal spending grew at a 2.8% pace, faster than in the first quarter.

That's a relief because despite stronger consumer confidence, Americans have been unwilling to spend more.

The economy also benefited during the second quarter from increased federal government spending.

"The real economy remains in good shape," Andrew Hunter, an economist at Capital Economics, wrote in a report.

The complete story here > U.S. economy accelerated during first full Trump quarter

SEOUL, SOUTH KOREA - FEBRUARY 22:  A South Korean banker carries US dollar bank notes at the Korea Exchange bank on February 22, 2005 in Seoul, South Korea. The South Korean won jumped to its highest intraday level in more than seven years in domestic tra

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