Latest Gross domestic product News

US economy grew at a brisk 4.2 pct. annual rate last quarter

Aug. 29, 2018 11:16 AM EDT

WASHINGTON (AP) — The U.S. economy grew at a strong 4.2 percent annual rate in the April-June quarter, the best showing in nearly four years, as growth stayed on track to produce its strongest full-year gain in more than a decade. Strength in business investment offset slightly slower consumer spending....

AP FACT CHECK: Trump's economic fiction: 'record' GDP, jobs

Aug. 13, 2018 12:14 AM EDT

WASHINGTON (AP) — President Donald Trump is distorting the truth on U.S. economic growth and jobs, pointing to record-breaking figures that don't exist and not telling the full story on black unemployment. He cites the highest-ever gross domestic product for the U.S. that's not there and predicts a...

Trump says GDP growth 'could be in the 5s' next quarter

Aug. 7, 2018 9:56 PM EDT

BEDMINSTER, N.J. (AP) — President Donald Trump said Tuesday he thinks gross domestic product growth in the next quarter "could be in the 5s" — that is, higher than 5 percent. Trump made the bold prediction Tuesday evening before a dinner at his Bedminster, New Jersey, golf resort with leaders from...

Trump again seemed to preview release of good economic news

Jul. 27, 2018 3:18 PM EDT

WASHINGTON (AP) — For the second time in two months, President Donald Trump broke with standard White House practices this week and appeared to offer a glowing preview of positive economic news. Past presidents have generally refrained from mentioning any government economic reports the day before they're...

Can big-spending US consumers and businesses sustain growth?

Jul. 27, 2018 2:43 PM EDT

WASHINGTON (AP) — Americans spent with abandon this spring. Businesses invested in more buildings and equipment. And exports jumped. Combined, those factors drove economic growth in the April-June quarter to a 4.1 percent annual rate, the fastest pace in nearly four years. A key question facing the economy...

US economy grew at a brisk 4.1 percent rate last quarter

Jul. 27, 2018 1:32 PM EDT

WASHINGTON (AP) — The U.S. economy accelerated last quarter at an annual rate of 4.1 percent, the government estimated Friday, as consumers spent tax-cut money, businesses stepped up investment and exporters rushed to ship their goods ahead of retaliatory tariffs. President Donald Trump said he was...

AP FACT CHECK: Trump falsely claims historic turnaround

Jul. 27, 2018 1:21 PM EDT

WASHINGTON (AP) — President Donald Trump falsely claimed Friday he's pulled off "an economic turnaround of historic proportions." Speaking at the White House after the government reported that the economy grew at an annual rate of 4.1 percent in the second quarter, Trump declared that the gains were...

Government revised GDP growth down slightly for 2017

Jul. 27, 2018 8:35 AM EDT

WASHINGTON (AP) — The economy grew at a slightly slower pace last year than previously believed, but Americans' saving rate was a lot higher, thanks to a flood of previously unreported income. Those are some of the findings in the government's latest comprehensive revision of its report on the gross...

Government revises GDP growth down slightly for 2017

Jul. 27, 2018 8:34 AM EDT

WASHINGTON (AP) — The economy grew at a slightly slower pace last year than previously believed, but Americans' saving rate was a lot higher, thanks to a flood of previously unreported income. Those are some of the findings in the government's latest comprehensive revision of its report on the gross...

AP FACT CHECK: Trump skews claims on economy, GDP growth

Jul. 26, 2018 11:09 PM EDT

WASHINGTON (AP) — President Donald Trump is prematurely claiming he proved naysayers wrong in boosting U.S. economic growth. Speaking at events Thursday in Iowa and Illinois, Trump claimed victory in advance of Friday's government release of quarterly gross domestic product data, saying "nobody thought we...