Friday, July 27, 2018
U.S. second-quarter GDP growth expected to top 4%
Wall Street -- and the White House -- eagerly await the release of GDP data on Friday that many economists expect to top 4 percent. The last time the economy expanded at a comparable pace was in 2014, when growth hit 5.2 percent in the third quarter.
Granted, a single three-month period of rising output is a limited gauge of the economy's health. The quarterly figures are volatile and can swing sharply from quarter to quarter. But this year's second-quarter number will be more closely watched than usual, thanks to President Donald Trump's repeated pledge to hit annual growth of "much higher" than 3 percent.
The economy grew 2.3 percent in 2017, which is considered typical for the late stages of a post-recession recovery. GDP growth for a full year hasn't crossed the 3 percent mark in 14 years.
Read more >>
at 7:00 AM