The US economy continued to roar under President Trump and the Republican-controlled Senate in the first quarter of 2019, with GDP growth rising to 3.2% and smashing leading analysts’ expectations.
“The U.S. economy grew at a faster pace than expected in the first quarter and posted its best growth to start a year in four years,” reports CNBC.
“First-quarter GDP expanded by 3.2%, the Bureau of Economic Analysis said Friday in its initial read of the economy for that period. Economists polled by Dow Jones expected growth of 2.5%. It was the first time since 2015 that first-quarter GDP topped 3%,” adds the report.
The strong data comes just days after the Nasdaq and S&P 500 reached new heights both historically and for same-day trading.
Read the full report here.
AMERICA UNLEASHED: GDP GROWTH Tops 4.1% in SECOND QUARTER
The US economy continued to roar to life in the second quarter of 2018 with GDP growth topping a whopping 4.1%; signaling a robust recovery under President Trump and the GOP-controlled Congress.
According to CNBC, Gross Domestic Product posted its largest gains in over four years on the back of strong consumer confidence and record-breaking business growth and optimism following the Republican-sponsored tax cuts.
“That’s the fastest rate of the growth since the 4.9 percent in the third quarter of 2014 and the third-best growth rate since the Great Recession. In addition to the strong second quarter, the Commerce Department revised its first-quarter reading up from 2 percent to 2.2 percent,” writes CNBC.
“We’re on track to hit the highest annual growth rate in over 13 years,” said the President. “And I will say this right now and I will say it strongly, as the deals come in one by one, we’re going to go a lot higher than these numbers, and these are great numbers.”
Read the full report here.
FLASHBACK to 2017: Leading Economists, Media ‘SKEPTICAL’ GDP Could GROW 3%
The US economy continued to reach new heights this week as recent reports showed a stunning 4.1% growth in GDP; shocking economists and “experts” who claimed 3% growth would be highly unlikely back in 2017.
Politifact published the dour economic article in May 2017, titled “Why economists are skeptical that U.S. can grow by 3 percent,” claiming leading experts believed such economic output would be highly unlikely during the Trump presidency.
“So do economists really think that 3 percent growth is no longer feasible? Basically, yes… Here’s why,” writes the author.
“We checked in with several economists on the left, right and center. The most bullish among them were merely skeptical about the chances of reaching 3 percent on a consistent basis. The majority were downright pessimistic,” adds the article.
Fast forward over one year later and the US economy is roaring to life under President Trump; smashing job expectations and nearing full employment in the wake of the GOP-sponsored tax cuts.
Read Politifact’s original article here.