California surpassed the United Kingdom to become the fifth largest economy in the world in 2017 with a gross domestic product of $2.7 trillion, according to new federal data released Friday.
Read moreThe U.S. economy grew at a faster pace that originally estimated in the fourth quarter of 2017, thanks to a revised analysis of consumer spending and a smaller drag from inventories, the Commerce Department said Wednesday.
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The U.S. economy grew at an annual rate of 3 percent in the third quarter, the Commerce Department said Friday, marking the first time in three years that growth has reached or bettered the 3 percent milestone for two consecutive quarters.
Read moreThe U.S. economy grew at an annual rate of 3.1 percent in the spring, the fastest pace in more than two years, the Commerce Department said Thursday.
Read moreThe U.S. economy grew at an annual rate of 3 percent during the second quarter, the fastest pace in more than two years, the Commerce Department reported Wednesday.
Read moreThe nation’s gross domestic product, the broadcast gauge of US economic might, grew at a sluggish 1.2 percent rate in the first quarter of the year, far below President Donald Trump’s growth targets.
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The U.S. economy grew at a weak 1.9 percent rate in the fourth quarter — a significant slowdown from the 3.5 percent growth achieved just a quarter earlier. The Commerce Department on Tuesday attributed the deceleration in real GDP to a downturn in exports, among other factors.
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U.S. economic growth slowed during the final three months of 2016, closing out a moribund year dominated by a chaotic presidential contest and uncertainty over Britain’s departure from the European Union.
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