US economy reportedly declares its best quarter in four years

The US economy (US) reported the fastest growth in four years in the second quarter as consumers increased their spending and farmers accelerated soybean exports to China entry into force of retaliatory tariffs in early July

GDP probably increased by 4.1% per year after companies increased their inventories before import duties Impending import, according to a Reuters survey to a group of economists

This would be the strongest performance since the third quarter of 2014 and would put the US economy on track to reach the market. Government President Donald Trump's goal of annual growth of 3%. 19659003] Before the data report, Trump and members of his economic team promoted the idea that the April – June expansion was solid. Earlier in the week, he tweeted that the United States has "the best financial figures on the planet."

With the expansion of the economy in the second quarter, the report will likely include a review of first quarter growth at a rate of 2%.

"Ironically The threat of a trade war seems to have spurred activity in the second quarter," said Michelle Girard, chief economist at NatWest Market in Stamford, Connecticut.

Washington has imposed 25% duty on Chinese products for a value of US. $ 34 billion on July 6, which provoked a similar reaction from Beijing, which targeted soybeans and other agricultural products, as well as cars made in the United States.

The President also set tariffs on steel and aluminum imports, which provoked retaliation from major trading partners, including Canada, the European Union, the United States, the United States and the United States. Mexico and China. There was also a concentration of exports of other goods in the second quarter. (Reuters)