According to National Bank of Canada’s analyst, Krishen Rangasamy, US economic growth accelerated sharply in the second quarter and is on track to grow roughly 3% during 2018. Key Quotes: “While the export sector benefited from strong foreign demand, domestic activity was pumped up by fiscal stimulus. Indeed, tax cuts propped up consumer spending and business investment, while increased outlays from government also boosted Q2 growth. So much so that real final sales, i.e. GDP excluding inventories, grew a stunning 5.1% annualized during the second quarter.” “The only reason Q2 real GDP growth ended up at 4.1% (and not 5.1%) was the drag from inventories.” “The pace of GDP growth observed during the second quarter is not sustainable over the longer term.” “The contribution of trade to growth in Q2 was the best since 2013 and is unlikely to be repeated soon given the strength of the U.S. dollar and ramp up of trade barriers.” “Real consumption growth, at 4% annualized in Q2 (the highest since 2014), will soften as the effects of personal income tax cuts fade.” “The strong first half of 2018 puts U.S. real GDP on track to grow roughly 3% this year.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next WTI struggles to stick to recovery gains, drops toward $68 after Baker Hughes report FX Street 5 years According to National Bank of Canada's analyst, Krishen Rangasamy, US economic growth accelerated sharply in the second quarter and is on track to grow roughly 3% during 2018. Key Quotes: "While the export sector benefited from strong foreign demand, domestic activity was pumped up by fiscal stimulus. Indeed, tax cuts propped up consumer spending and business investment, while increased outlays from government also boosted Q2 growth. So much so that real final sales, i.e. GDP excluding inventories, grew a stunning 5.1% annualized during the second quarter." "The only reason Q2 real GDP growth ended up at 4.1% (and not… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
