The U.S. economic expansion turned eight years old in June, and is showing no signs of slowing down. After a sluggish first quarter during which real gross domestic product (GDP) grew at a 1.4% annual rate, the U.S. economy gained momentum during the second quarter of 2017. Current estimates suggest GDP growth doubled to an annual rate of approximately 3.0% in the second quarter as consumer spending and business investment accelerated from the first quarter’s slow pace.