U.S. second-quarter GDP growth unrevised at 4.2 percent

US economic growth accelerated in the second quarter at its fastest pace in nearly four years as previously estimated, putting the economy on track to hit the Trump administration’s goal of 3 percent annual growth. Gross domestic product increased at a 4.2 percent annualized rate, the Commerce Department said on Thursday in its third estimate of GDP growth for the April-June quarter. The economy grew at a 2.2 percent pace in the January-March period. The economy expanded 3.2 percent in the first half of 2018. Growth in the second quarter was driven by the Trump administration’s $1.5 trillion tax cut package, which boosted consumer spending after it almost stalled early in the year. Source (CNBC)