Economic Update July 2018: Tax Breaks and Trade Uncertainty

by Blake Whiteley Last updated on August 07, 2018

US economic reports released in July showed increasing strength, breaking past the 2% real growth rate which has been somewhat of a norm since 2009. Real growth is up 2.8% in the past year, while real GDP growth in the second quarter alone grew at 4.1% annual rate which is its fastest pace since 2014. Wages and salaries are growing at its fastest pace in nearly a decade and, as a result, consumption numbers are also solid. The strong economic data can be attributed to tax cuts and increased government spending. 

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