There was an uptick in economic growth in the 2nd quarter as consumers and government spent more. Does that mean Americans are buying more or paying more? – PB/TK
U.S. economy accelerated during first full Trump quarter – By Matt Egan / July 28 2017
Economic growth accelerated to an annual rate of 2.6% from April through June, the government said Friday. That was about what economists had expected.
Second-quarter growth more than doubled the sluggish pace from the first three months of the year. First-quarter economic growth was revised down to 1.2%.
The economy gained steam in part because of stronger consumer spending, according to the Commerce Department. Helped by the strong job market, personal spending grew at a 2.8% pace, faster than in the first quarter.
That’s a relief because despite stronger consumer confidence, Americans have been unwilling to spend more.
The economy also benefited during the second quarter from increased federal government spending.
Continue to money.cnn.com article: http://money.cnn.com/2017/07/28/news/economy/gdp-second-quarter-trump-economy/index.html
