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GDP grew at 2.1% in the second quarter, beating expectations though slowing from last quarter’s 3.1% rate. The increase confirms other economic data showing we have matched the longest economic expansion on record, quarter for quarter. The annual GDP revisions also show that growth in 2017 was stronger than the original estimate—2.4%, revised up from 2.2%.
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Are we more divided as a nation today than we were before? Our new research within the Joint Economic Committee’s Social Capital Project suggests that we are. The findings indicate that Americans are more frequently dividing themselves geographically and along lines of education. Highly educated Americans have increasingly moved to a handful of states over the last several decades, leaving other places behind.
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At the Joint Economic Committee, we believe knowledge of social capital is vital to achieving our goal of expanding economic opportunity for all Americans. Join us as we invite hearing witnesses to engage in a deeper social capital conversation on The Social Capitalists Podcast: Post-hearing Discussions with the Joint Economic Committee Republicans.
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“This first quarter estimate of 3.2% GDP growth beat expectations and places the U.S. economy on solid footing for the beginning of 2019. Accelerating exports and decreasing imports led growth in the first quarter, along with increases in business inventories. This puts us ever closer to the longest U.S. economic expansion on record.”