American businesses set a new record for the most consecutive months of job growth: By November, the economy had already added more jobs than in any full calendar year since the s. And crucially, the pickup in job growth during occurred primarily in higher-paying industries, while nearly all of the employment gains have been in full-time positions. At the same time, the unemployment rate fell below 6 percent for the first time since
The US economy roared into high gear in the spring, growing at the fastest pace in almost four years.
Second-quarter economic growth came in at an annual rate of 4. That was the best showing since the third quarter of By many metrics, the United States economy is in excellent shape: Unemployment is near an year lowfactories are seeing more orders, and exports are surging.
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.
Economists are generally predicting slower growth in the second half of the year, though, as the effects of the tax cut wear off and rising interest rates depress consumer spending.
Economists also expect slower growth in and Looks great; won't last," wrote Ian Shepherdson, chief economist at Pantheon Macroeconomics. And it seems that corporate executives are treading carefully, as surveys of business confidence and hiring expectations begin to flag.
The strong second-quarter growth reflected large increases in orders of durable goods, investment in non-residential construction, exports, intellectual property, and government defense spending. Weak home construction and increased imports, which subtract from economic growth, took it down a notch.
The personal consumption expenditures price index, a key metric that the Federal Reserve uses to decide whether to raise interest rates, came in at 1.4 signs the economy is about to tank. The Commerce Department recently revised its estimate of U.S.
economic growth, announcing that the economy actually shrank at a % annualized rate. The State New Economy Index builds on six prior State New Economy Indexes published in , , , , and Overall, the report uses 25 indicators broken up into five key areas that best capture what is new about the New Economy.
The third president of the United States completed the original house in In he began to rebuild the structure, blending his own architectural style with his favorite European designs.
Remodeling continued on and off for most of the remainder of his life. The US economy accelerated to a percent pace of growth in the second quarter, the fastest since , letting President Donald Trump claim a win for his policies even though expansion is projected to cool. The annualized rate of gains in gross domestic product was just shy of the percent.
The unemployment rate has fallen from 10% at the height of the recession to % as of June despite limited economic growth because worker productivity has grown at a historically slow %.
The Index of Economic Freedom gave the United States a score of and is listed as the twelfth-freest economy in world. It dropped two rankings and its score is half a point lower than in