US POSTS STRONG GROWTH IN SECOND QUARTER

The U.S. economic growth in the second quarter was stronger than expected as GDP growth was revised upwards to 4.2 per cent, the fastest rate in four years. The economy was on track as lower consumer spending was offset by investments in software and reduced imports. Compared to the second quarter of 2017, output increased by 2.9 per cent instead of the previously reported 2.8 per cent.