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Caspian Energy Journal Caspian European Club
Monday, 04 March 2019 17:00

US economy achieves 3% growth for first time in 13 years

US economy achieves 3% growth for first time in 13 years

In 2018 the U.S. economy grew at a rapid rate of 3.1 percent, the fastest pace for any calendar year since 2005, with output rising by $560 billion over the four quarters of the year, Caspian Energy News (www.caspianenergy.net) reports with reference to the press statement of the White House.

For the second consecutive year, economic growth precisely matched or narrowly exceeded the Administration’s own forecast, outperforming consensus forecasts in the process. Gross private domestic investment, just 17 percent of GDP at the start of the year, accounted for 36 percent of the growth in real GDP in 2018.  Real investment in intellectual property products, up 10.8 percent, and grew at its fastest pace since 1999.

This impressive economic performance was not merely a continuation of trends already underway during the preceding expansion, but rather a marked acceleration of economic activity.

More details: https://www.whitehouse.gov/articles/2018-banner-year-u-s-economy/

Person in charge of the newsline: Olga Nagiyeva 

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