The US economy actually grew by a stunning 4.2% in the second quarter of 2018; inching upwards by 0.1% after economists officially reviewed government and business data from across the country.
According to Yahoo News, the “roaring growth” seen under President Trump was higher than previously estimated; smashing expectations just months after the Commander-in-Chief signed the sweeping overhaul of the nation’s outdated tax code into law.
“The uptick in estimates of second quarter spending by companies was sure to comfort President Donald Trump and supporters of December’s sweeping corporate tax cuts who argue that lowering corporations’ tax burdens will spur investment and growth,” writes Yahoo.
“Gross Domestic Product advanced at an annual rate of 4.2 percent in the April-to-June period, a tenth of a point faster than initial estimates showed last month and — at nearly twice the first quarter’s pace — he fastest growth in almost four years, according to the Commerce Department,” adds the article.
Read the full report here.