Economics
U.S. Growth Hits 4.1%, Fastest Since 2014, in Win for Trump
- Consumer spending rises 4% following tepid first-quarter gain
- Business investment advances; inventories offset trade boost
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The U.S. economy accelerated to a 4.1 percent pace of growth in the second quarter, the fastest since 2014, letting President Donald Trump claim a win for his policies even though expansion is projected to cool.
The annualized rate of gains in gross domestic product was just shy of the 4.2 percent median forecast in a Bloomberg survey. It followed first-quarter growth of 2.2 percent that was revised from 2 percent, the Commerce Department reported Friday. Consumer spending grew 4 percent, more than estimated, while nonresidential business investment climbed at a 7.3 percent clip.