U.S. Economy Grew at 2.1% Pace in Second Quarter, Better than Expected

Breitbart:

The U.S. economy grew at a healthy pace in the second quarter, slowing by less the economists had expected from earlier in the year amid multiple headwinds, including weaker global demand, higher mortgage rates, and uncertainties over trade policy.

Gross domestic product rose at a 2.1 percent annual rate from April through June, the Commerce Department reported Friday. Gross domestic product is a measure of all the goods and services produced in the U.S. after adjustments for seasonality and inflation.

Consumer spending was a source of strength for the economy, expanding at a 4.3 percent rate. Earlier in the year, consumer spending had slumped to a 0.9 percent growth rate. But the increase in consumer spending was offset by a decline in business investment. So-called nonresidential fixed investment fell at a 0.6 percent rate, down from a rise of 4.4 percent in the first quarter. more here

4 Comments on U.S. Economy Grew at 2.1% Pace in Second Quarter, Better than Expected

  1. The biggest categorical gain? RVs!

    Overheated housing plus over hiked taxes will do that.

    The average debt owed on a house in Beverly Hills is $1,600,000 with $25,000 property tax on an average $150,000 salary.

    Why people choose to drown themselves in debt I’ll never know, unless of course there’s no real intention of paying it back.

    Carry on..

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  2. EVER notice since Trump took office, the economy is ALWAYS doing “BETTER than experts predicted?”

    And yet, when Barky was screwing everything up, the economy was ALWAYS – “SURPRISINGLY” 🙄 – coming in “WORSE than experts predicted.”

    Now WHY is that? 🤔

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  3. Read elsewhere that the 2nd quarter is almost always the weakest and anything over 1 1/2 shows strong growth.

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  4. remember back in the days of the strong Obama economy where we had phenomenal growth?
    yeah, me neither

    … back in the days of the Obama economy where Obama said stagnant growth & fewer jobs was ‘the new normal’
    … back in the days of the Obama economy when Joe Biden said Donald Trump’s claim of achieving a 3% growth was ‘a pipe dream, man’
    … back in the days of the Obama economy where Nan Pelosi told us to ’embrace the suck’
    yeah, I remember THAT!

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