Strong Economic Growth Continues
(Arlington, VA) – Today the Bureau of Economic Analysis reported that the U.S. economy grew at a rate of 4.1 percent in the second quarter of the year, following a 2.2 percent growth rate in the first quarter of 2018. This is the strongest single quarter of growth since 2014, and it comes at a time of very low unemployment. A number of factors contributed to the strong quarter, including a strong increase in household spending of 4 percent.
Daniel Garza, President of The LIBRE Initiative, released the following statement:
“It’s clear that in the wake of historic tax cuts and regulatory reforms, the U.S. economy is growing more strongly than it has in years. Unemployment is historically low – particularly for Latinos. Workers and small businesses are benefiting more from economic opportunity than they have in years. Young people seeking to build their personal American Dream have a more favorable climate in which to work and succeed.
When Americans are benefiting from a strong economy, it’s important that leaders in Washington avoid the sort of policy mistakes that have the potential to really hurt American workers and businesses – like new and destructive tariffs. If our leaders keep a focus on expanding markets and reducing limits on trade, growth is more likely to continue and improve. Closing markets and threatening trade wars will only hurt.”