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US economy expanded at a surprising 3.8% pace in significant upgrade of second quarter growth

From apnews.com

The U.S. economy expanded at a surprising 3.8% from April through June, the government reported in a dramatic upgrade of its previous estimate of second-quarter growth. U.S. gross domestic product — the nation’s output of goods and services — rebounded in the spring from a 0.6% first-quarter drop caused by fallout from President Donald Trump’s trade wars, the Commerce Department said Thursday. The department had previously estimated second-quarter growth at 3.3%. The first-quarter GDP drop, the first retreat of the U.S. economy in three years, was mainly caused by a surge in imports — which are subtracted from GDP — ... (full story)

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  • Category: Fundamental Analysis