Final reading on Q2 GDP confirms 4.2% gain, the fastest rise in nearly four years

• September 27, 2018
• realestate
• Announcements, Business & Markets, Real Estate, Real Estate Finance, Your Real Estate Life

The U.S. economy grew as expected in the second quarter, according to a reading Thursday that confirmed that gross domestic product rose at its quickest rate in nearly four years.

GDP, the broadest measure of how the economy is progressing, increased 4.2 percent, the Bureau of Economic Analysis reported, the same as expected from economists surveyed.

This was the final reading for the quarter and now sets the stage for Q3 and what is expected to be a year that will show growth better than 3 percent.
The reading comes as the economy seems to be firing on nearly all cylinders, with a sluggish housing being the lone exception. Consumer confidence recently hit an 18-year high, small business optimism is also around record highs and corporate profit increases have been running at 25 percent this year.

Citing a stronger economy, the Federal Reserve on Wednesday approved another quarter-point hike in its benchmark interest rate.