The U.S. economy grew at an annualized rate of 4.1% in Q2—household spending was the largest contributor while business spending on capital continues to contribute strongly to economic growth. The chart shows that inflation-adjusted (real) GDP growth continued to accelerate in Q1 and Q2 over the last two years. In 2017 growth was bolstered by regulatory reform, which was then reinforced by TCJA in 2018. The improvement is also registered in real disposable income, which grew at an annual rate of 3.5% for the first half of 2018 compared with a 2.3% Obama recovery average.