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US economy grew at 4.2% rate in Apr-Jun quarter

04
Oct '18
Courtesy: Burak Kebapci from Pexels
Courtesy: Burak Kebapci from Pexels
US economic growth accelerated in the second quarter at its fastest pace in about four years. Gross domestic product (GDP) rose at a 4.2 per cent annualized rate in the second quarter, according to the commerce department, which released its third estimate of GDP growth for the April-June quarter. The figure is the same as the estimate published in August.

The economy grew at a 2.2 per cent pace in the January-March period and by 3.2 per cent in the first half of 2018, according to US media reports.

The second quarter growth was driven by the US administration’s $1.5 trillion tax cut package, which boosted consumer spending. (DS)

Fibre2Fashion News Desk – India


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