US economic growth accelerated in the second quarter at its fastest pace in about four years. Gross domestic product (GDP) rose at a 4.2 per cent annualized rate in the second quarter, according to the commerce department, which released its third estimate of GDP growth for the April-June quarter. The figure is the same as the estimate published in August.
The economy grew at a 2.2 per cent pace in the January-March period and by 3.2 per cent in the first half of 2018, according to US media reports.US economic growth accelerated in the second quarter at its fastest pace in about four years. Gross domestic product (GDP) rose at a 4.2 per cent annualized rate in the second quarter, according to the commerce department, which released its third estimate of GDP growth for the April-June quarter. The figure is the same as the estimate published in August.#
The second quarter growth was driven by the US administration’s $1.5 trillion tax cut package, which boosted consumer spending. (DS)
ALCHEMPro News Desk – India
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