The United States' economy saw a strong recovery in the second quarter of 2017 measured on a quarter-on-quarter basis after a decrease of output growth in the fourth and the first quarters. Thus, U.S. real GDP increased at an annual rate of 3.1 percent in the second quarter of 2017 compared to the previous quarter according to the estimate by the U.S. Bureau of Economic Analysis. Based on year-over-year growth rate though, US GDP grew at 2.08% continuing an upward trend started in the third quarter of 2016. As a result, GDP growth is estimated to reach 2.18 percent in 2017 with a modest uptick to 2.34 percent in 2018. IMF revised down projections for 2017 and 2018 by 0.13 and 0.18 percentage points.
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