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The US economy in the second quarter recorded more than 4% for the first time in four years, according to the Commerce Department's first estimate released Friday.
From April to June, gross domestic product (GDP) growth reached 4.1% year-on-year, the highest rate since the last quarter of 2014
The Ministry also revised growth in the first quarter to 2.2% The second quarter performance, in line with badysts' forecasts, is expected to be celebrated by the administration of Donald Trump. Through his tax cuts, deregulation and global trade reform, his government promised to put in place accelerated accelerated growth.
>> Trump celebrates a strong and "sustainable" GDP and predicts more than 3% Donald Trump immediately hailed the announcement of growth statistics as an "economic miracle", saying that the rate of 4.1% is not a "unique opportunity".
"As trade agreements come one by one, we will increase much Trump had anticipated the announcement by the US Department of Commerce:" There are predictions that will go from the front ", said Trump in an address in Iowa, in the US Midwest.We will accept no matter what starting with a 4 … No one would say we could do so well!"
& nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Expansion of the world's largest economy was driven by vigorous consumption that grew by 4%, also
Tax breaks, adopted by Republicans at the end of 2017, seem to have finally boosted spending by households in the United States.
Americans bought more durable goods (+ 9.3%) and especially automobiles
Consumer spending weighed 2.7 points in growth figures
Another key factor for the figures for the quarter were exports, which rose by 9.3%, their highest level
This sharp increase appears as a side effect of the commercial tensions initiated by the Trump administration with the application tariffs on imported steel and aluminum, particularly from China.
and imposed similar measures on American soybeans in July, foreign buyers seem to have anticipated and stored their granaries.
Department of Commerce report says "accelerated exports of food, beverages, animal feed, and especially soybeans."
Exports contributed 1.12% to growth , the highest contribution in five years.
For the World Trade Organization (WTO), however, the consequences of tariffs applied by the world's economic powers are not yet visible, but will have devastating effects on the world economy.
This week, the WTO released a report showing that trade restrictive measures are on the rise. fears that the negative effects of this new "eye for an eye" policy will slow down the economy.
vmt / tes / gv / mls / cn / tt
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