U.S. Economy Grows 4.1% in Second Quarter, the Fastest Rate in 4 Years

Washington, D.C.–Real gross domestic product increased at an annual rate of 4.1 percent in the second quarter of 2018, according to Bureau of Economic Analysis (BEA) of the Department of Commerce.

The increase in real GDP in the second quarter reflected positive contributions from personal consumption expenditures (PCE), exports, nonresidential fixed investment, and government spending.

“Today’s release of the United States’ GDP growth of 4.1% for the second quarter shows that President Trump’s economic plan is working. President Trump is keeping his pledge to restore our economy. His vision is revitalizing communities across the country and letting American families keep more of their hard-earned dollars,” said Wilbur Ross, Secretary of Commerce.

In addition to the 4.1% growth, the first quarter’s growth was revised up in today’s announcement to 2.2% from 2%.

“We’re on track to hit the highest annual average growth rate in over 13 years,” said President Trump.  “If economic growth continues at this pace, the United States economy will double in size more than 10 years faster than it would have under either President Bush or President Obama.”