U.S. growth accelerates, but short of pace promised by Trump
The U.S. economy grew at an annual rate of 2.6 percent last quarter, a big pickup from the beginning of 2017, but well short of the pace President Trump has promised and lower than what many experts had been anticipating until recently.
Still, the Commerce Department’s report issued Friday is a sign that the economy remains on track, with underlying growth in line with where it has been since the current recovery began eight years ago this summer.
On Wall Street, economists had been expecting growth of 2.5 percent for the second quarter. The new data on gross domestic product come after positive figures this week on orders for durable goods in June and a slightly more favorable trade balance.