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在线翻译:
szdaily -> World Economy -> 
US economic growth fastest since 2014
    2018-07-30  08:53    Shenzhen Daily

THE U.S. economy roared to life in the second quarter of the year, posting the fastest annual growth rate in almost four years and the strongest among industrialized nations, according to government data released Friday.

Gross Domestic Product expanded by an annual rate of 4.1 percent, matching analyst expectations, as Americans bought more cars and as foreign sales of oil and soybeans gave exports the biggest boost in more than four years, the U.S. Commerce Department reported.

The result showed the world’s largest economy — now valued at US$20 trillion — was in robust health, in part accelerating after the injection of stimulus and tax cuts by President Donald Trump and Republican lawmakers.

But the preliminary growth estimate — which will be revised as more complete data becomes available — did not fulfill the wildest dreams of some at the White House, however, as Trump touted the possibility of growth as high as 5 percent.

The White House is counting on faster growth to pay for December’s sweeping tax cuts by generating higher revenues, but economists say there is little chance such rapid expansion can be sustained.

Second-quarter GDP rose at the fastest pace since the 4.9-percent jump seen in the third quarter of 2014. And growth in the January-March quarter was revised up to 2.2 percent from the previous 2-percent estimate, according to the report.

With more money in their pockets after a decade of job growth and falling unemployment, consumer spending shot up to its fastest pace since the end of 2014.

Purchases of goods jumped 5.9 percent — with the largest contribution coming from booming auto sales — while services rose 3.1 percent.

Meanwhile, exports of goods leapt 13.3 percent higher, the biggest increase since the fourth quarter of 2013. (SD-Agencies)

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