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US economy steams ahead on the back of soybean shipments

JOHANNESBURG – The United States’ economy grew at its fastest rate in almost four years during the second quarter.

This was largely boosted by consumer spending and increased shipments of soybeans to China to avert impacts of trade tariffs.

GDP figures show the economy swelled by 4,1 percent.

READ: Xi Jinping says ‘no winner’ in any trade war

Economists are questioning whether the country can sustain the rate of growth in the face of trade tensions and rising rates.

US President Donald Trump, however, says the country will continue its upward trend.

 

 

eNCA

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