US Economy Grows at Fastest Rate in 4 Years, Unemployment at Near-Record Low

The second quarter of 2018, the us economy grew at an annual rate of 4.1%, the fastest rate of growth since 2014. consumer spending increased 4%, business investment rose 7.3%, government spending increased 2.1%, exports rose 9.3%, imports rose 6.6%, and the unemployment rate fell to a near-record low of 3.9%. wages are rising at their fastest rate in nine years, and inflation is at 2.9%, the highest rate in six years.

Growth occurred in the second quarter of 2018, and it was observed across the entire us economy. the federal reserve is expected to raise interest rates twice more this year, and the us trade deficit widened to $46.3 billion in june.

Growth is expected to continue, with the us economy projected to grow at a rate of 3.5% in 2018 and 2.5% in 2019. the economy has been growing for nine years, and the increases in consumer spending, business investment, government spending, exports, and imports all contributed to this growth. inflation is also rising, which is a sign of a healthy economy. the federal reserve’s decision to raise interest rates is a further sign of economic growth.

By Evey Lovelace

You May Also Like