The US economy roared into high gear in the spring, growing at the fastest pace in almost four years. President Donald Trump and his advisers trumpeted the numbers in a news conference outside the White House, saying that the economy was on pace to grow at the fastest rate in 13 years. If the economy grows at 3% or more in 2018, it will be the highest annual rate since 2005. Already announced tariffs are forecast to be only a slight drag on economic growth, unless more are imposed. Weak home construction and increased imports, which subtract from economic growth, took it down a notch.

Source: CNN July 27, 2018 12:36 UTC