What is driving U.S. expansion? Consumers and government spending are boosting the economy, while business investment is lagging.
What is driving the U.S. expansion? Consumers and government spending, according to a close look at Wednesday’s report on third-quarter economic output. A Trump administration priority—business investment—is lagging behind, while trade, another priority, is producing mixed results.
U.S. gross domestic product—a broad measure of output of goods and services—has averaged 2.6% since the beginning of 2017, after President Trump was elected. That’s faster than the 2.2% annualized growth rate that prevailed in the expansion before...
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