The US economy advanced at an annual rate of 3% in the second quarter of 2017, the fastest growth rate of the last two years, a boom that gives reasons for optimism but that experts do not dare to relate to policies The president, Donald Trump.
The calculation released today is the second of three published by the Department of Commerce on the evolution of gross domestic product (GDP) in the second quarter of the year.
The increase in GDP at an annual rate of 3% between April and June is an improvement over the first estimate of 2.6% and, in addition, represents a marked improvement over the pace of growth recorded in the first quarter, which was 1.2%.
The 3% advance also surpasses that predicted by analysts, who had predicted a GDP rebound of 2.8%, and has become the highest quarterly growth rate since the first quarter of 2015, according to the Department’s report trade.
Analysts, however, see it premature to link the data with Trump’s policies, and warn that the US economy typically accelerates in the second quarter of the year.
Trump has promised that the country’s economy will grow steadily between 3% and 4% annually under its mandate, which began on January 20, thanks to a boost in investment in infrastructure and a fiscal plan that will reduce Taxes, although these commitments have not yet taken legislative form.
The rebound in GDP was driven by an increase in exports, federal government spending and consumption.
In fact, consumer spending, which accounts for two-thirds of the country’s economic activity, accounted for most of the economic improvement with a rate of 3.3%, the highest recorded in the last year, according to the Department’s report trade.
In the second quarter, Americans spent more on goods and services, including a higher-than-expected purchase of cars, mobile phones and homes.
In addition, the Commerce Department report includes the government’s first estimate for corporate profits, which fell 1.4% in the second quarter after rising 1.3% in the first quarter, from January to March.
The United States has had 11 consecutive years of annual GDP growth of less than 3% and by 2016 grew just 1.6%, the lowest pace since 2011.
Trump wants to stimulate the economy with a tax reform, which he introduced in April and whose details will be unveiled today during an event in Springfield, Missouri.
The president plans to talk about his “vision” about job creation and economic growth by cutting taxes and revising the tax code.
The tax reform to improve the conditions of the working class was one of the most repeated proposals by Trump during the electoral campaign, although the president and in the White House little has made these months to define the details of his proposal.
In April, the White House said that the reform would reduce the company’s corporate income tax from 35% today to 15%, one of the few details made on the plan.
To approve his reform, Trump needs the help of the Republican leaders of Congress, who have shown in previous occasions his intention to lower taxes as much as possible.
At the end of June, the International Monetary Fund (IMF) lowered the nation’s growth forecast to 2.1% in 2017 and 2018 due to the lack of a “fully articulated economic plan” by the new Trump Government, And considered “unrealistic” the promises to reach an annual expansion of 3%.