America's GDP advances by 4.2% in 2Q

By U.S. EconomyFOXBusiness

Trump slams Obama over GDP growth

New Heights Communications President Christy Setzer and RNC spokesperson Kayleigh McEnany discuss whether President Trump or former President Barack Obama deserves credit for the U.S.’s strong economic growth.

America’s economy extended its strong momentum in the second quarter, with gross domestic product (GDP) increasing at a 4.2 percent rate, according to the final revision.

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The prior, first revision pegged second-quarter GDP at a 4.2 percent annual rate, above the originally reported 4.1 percent.

GDP is one of the main indicators used to measure the health of a country’s economy, and according to the second-quarter GDP reading, the economy appears to be firing on all cylinders.

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U.S. corporate profit growth moderated in the second quarter versus the first, while consumer spending was steady at a 3.8 percent annual rate, unrevised from the previous estimate. Business investment and global trade were slightly higher than the prior calculation.

The strong growth in the second quarter followed a 2.2 percent increase in the first quarter.