The US economy surged in the April-June quarter to an annual growth rate of 4.1 per cent. That's the fastest pace since 2014, driven by consumers who began spending their tax cuts and exporters who rushed to get their products delivered ahead of retaliatory tariffs.
President Donald Trump told reporters at the White House that he was thrilled with what he called an "amazing" growth rate and said it wasn't "a one-time shot."
Paul Ashworth, chief US economist at Capital Economics, said that as the government stimulus from tax cuts and higher spending fades, and the Federal Reserve's continued interest rates hikes begin to pinch, "growth will slow markedly from mid-2019 onwards."
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