Call it huge or fantastic or even beautiful. Trumpian adjectives are absolutely appropriate to describe the humming U.S. economy in the second quarter of this year. The great American opportunity machine is roaring once again. While it may be unlikely that growth will be quite this strong in the quarters to come, Friday’s GDP report from the Commerce Department gives every reason to believe that a robust expansion will continue. That’s in large part because businesses have been making significant investments in new factories and equipment since the start of this year. Such capital expenditures are not one-quarter wonders-they allow higher production in the years to come.
(This article requires a subscription to the Wall Street Journal. To subscribe, please click on the above link.)