U.S. GDP Growth Tops 4% in Q2

The U.S. economy grew 4.1% in the second quarter to post its strongest quarter since the third quarter of 2014 and fifth strongest quarter of the expansion. Despite slightly missing the Bloomberg-surveyed economist consensus of 4.2%, the details behind the report were generally positive, with strong growth despite a headwind from a large contraction in inventories, as well as an added hurdle from an upward revision of first quarter growth from 2.0 to 2.2%. Fiscal stimulus had a clear impact, with a strong rebound in consumer spending from first quarter weakness, solid business spending, and increased government spending, although a rising budget deficit remains a concern.

Download the Full Article