Economic news

U.S. expands faster on grown consumer expenditures and farming

The economy of the United States experienced its most rapid rate of growth in almost four years in the April-June quarter, driven by bigger consumer spending and hurried transportation of soybeans to China by agro-industry to overtake response tariffs before their start in July.

The country’s GDP moved upward at an annualized rate of 4.1% thanks to boosted government spending, according to today’s preliminary data on the second quarter from the Commerce Department.

This becomes the peak reading since the July-September quarter of 2014.


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