The U.S. economy rebounded sharply in the spring, growing at the fastest pace in more than two years amid brisk consumer spending on autos and other goods.
The result is a healthy upward revision from the government’s initial estimate of 2.6 percent growth in the second quarter. The growth rate in the January-March quarter was a lackluster 1.2 percent.
President Donald Trump hailed the latest figures, declaring “we are really on our way.” Trump said if the economy is able to sustain growth at a 3 percent rate, it would create 12 million new jobs and $10 trillion in new economic activity over the next decade.
During last year’s campaign, Trump pledged to boost economic growth to 4 percent or better. Read more at ABC News.
{Matzav.com}
