U.S. economy grows at 4.1% annual rate in 2nd quarter
- 6 years ago
The United States economy soared in the second quarter, growing at its fastest pace in about four years.
The U.S. Department of Commerce announced Friday that the world's largest economy expanded at a 4-point-1 percent annual growth rate in the second quarter, its fastest rate since the third quarter of 2014.
This is a 2-point-8 percent jump from the same period last year, and nearly double the first quarter rate of 2-point-2 percent.
The economic boom was driven by a 4-percent jump in consumer spending and a 7-point-3 percent growth in business investment,... which analysts say was encouraged by the 1-point-5 trillion dollar tax cut at the start of the year.
The U.S. Department of Commerce announced Friday that the world's largest economy expanded at a 4-point-1 percent annual growth rate in the second quarter, its fastest rate since the third quarter of 2014.
This is a 2-point-8 percent jump from the same period last year, and nearly double the first quarter rate of 2-point-2 percent.
The economic boom was driven by a 4-percent jump in consumer spending and a 7-point-3 percent growth in business investment,... which analysts say was encouraged by the 1-point-5 trillion dollar tax cut at the start of the year.