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US Economy Rose to 3.1 pc: CBO


August, 14 2018
watermark Economic news

The American economy is expected to boost by 3.1 percent this year due to increase in government expenditure and tax reductions supported the growth, according to the Congressional Budget Office yesterday. However, the strong expansion may slow down earlier in 2019 considering that the United States may weaken as temporary government policies may elapse based on CBO’s report.


Moreover, the Congressional Budget Office predicted showed that the economic growth will decline to 2.4 percent next year and 1.7 percent in 2020, hovering above that level on the following decade. In case that CBO’s figures coincided with the results, the US economy would likely leap to 3.1 percent this year versus 2.6 percent last year. The mentioned numbers indicate a significant development amid the impact of the Great Recession, with a slackening annual growth rate of 2.2 percent.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.