Second-quarter GDP jumps 4.1% for best pace in nearly four years. Gross domestic product grew at a solid 4.1 percent pace in the second quarter. . .That's the fastest rate of the growth since the third quarter of 2014 and the third-best growth rate since the Great Recession. In addition to the strong second quarter, the Commerce Department revised its first-quarter reading up from 2 percent 2.2 percent.” (CNBC)

“The U.S. economy had a blockbuster second quarter, with growth surging to a 4.1 percent pace, the Commerce Department said Friday. That was nearly double the first quarter rate of 2.2 percent and the strongest pace in nearly four years.” (NPR)
 
The sweeping Republican tax cuts that took effect in January were likely a major contributing factor, permanently slashing the corporate tax rate from 35 percent to 21 percent and increasing many workers' take-home pay.” (Fox News)
 
“Consumer spending propelled U.S. economic growth to a 4.1 percent pace in the second quarter, the fastest since 2014. . . In addition to lower taxes, consumers' purchasing power is benefiting from steady hiring, an unemployment rate that's near the lowest since 1969, improving finances, relatively low borrowing costs and contained inflation.” (Bloomberg)
 
“The U.S. economy grew at its fastest pace in nearly four years in the second quarter. . . .Consumer spending is being driven by the lower taxes and a robust labor market, which created an average of 215,000 jobs per month in the first half of this year.” (Reuters)

“It was the strongest quarter of growth since 2014. . . . ‘The bottom line is that the economy is doing better,’ said Diane Swonk, chief economist for the accounting firm Grant Thornton.” (The New York Times)

“Economic growth depends a lot on how consumers and businesses feel about the economy. When individuals are positive about their finances they are more likely to spend, and the same goes for businesses. Tax reform was meant to boost both individuals and businesses, lowering the corporate tax rates to increase the money businesses have to invest in growth while also increasing take home pay for many Americans. The latest GDP reading suggests that this strategy is working.” (Fox Business)

By many metrics, the United States economy is in excellent shape: Unemployment is near an 18-year low, factories are seeing more orders, and exports are surging.” (CNNMoney


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