According to new data released by the Bureau of Economic Analysis, the value of all goods and services produced in the U.S. increased by 2.1 percent during the second quarter of 2019.
Although the figure is lower than growth during the first three months of the year, economic performance remains strong.
Consumer spending was a key factor in this quarter’s growth. In the first quarter, consumer spending grew at a pace of 1.1 percent. But in the second quarter, it was up an impressive 4.3 percent.
Lower taxes and rising wages are likely to thank for this economic growth driven by an uptick in consumer spending. With more money in American pockets, the sky is the limit.