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Reproduced from Bureau of Economic Analysis; Chart: Axios Visuals

U.S. economic growth is returning to around the 2% level that economists see as trend or the economy's neutral level, data shows.

By the numbers: Second quarter GDP was unrevised at 2% and estimates for the third and fourth quarters look to be around that level.

  • The Atlanta Fed’s GDPNow model estimate for the third quarter is 1.9% growth, up from its last estimate of 1.8%, and the New York Fed’s Nowcast model is tracking Q3 at around 2.2%.

Fun fact: If the U.S. Latino population were an independent nation, it would be the 8th largest economy on earth, the third fastest growing economy in the world, and the fastest growing developed market economy, according to the 2019 U.S. Latino GDP Report.

  • "U.S. Latinos account for nearly 30% of America's growth in real income," the study's authors found.

Go deeper: The cost of the "strong" U.S. economy

Go deeper

Updated 28 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Politics: Trump says if Biden's elected, "he'll listen to the scientists"Trump calls Fauci a "disaster" on campaign call.
  2. Health: Coronavirus hospitalizations are on the rise — 8 states set single-day coronavirus case records last week.
  3. States: Wisconsin judge reimposes capacity limit on indoor venues.
  4. Media: Trump attacks CNN as "dumb b*stards" for continuing to cover pandemic.
  5. Business: Consumer confidence surveys show Americans are getting nervousHow China's economy bounced back from coronavirus.
  6. Sports: We've entered the era of limited fan attendance.
  7. Education: Why education technology can’t save remote learning.
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President Trump attacked CNN for continuing to cover the coronavirus pandemic, calling the network "dumb b*stards" at a campaign rally in Prescott, Arizona on Monday.

Why it matters: The president's attacks on the media and Anthony Fauci, the government's top infectious-disease expert, come as coronavirus cases and hospitalizations are again surging across the country, just two weeks out from Election Day.

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The big picture: Trump's announcement is part of a wider agreement that is expected to include moves from Sudan toward normalizing relations with Israel.