U.S. Q2 GDP, which we wrote about earlier this week in 4% GDP Coming to America, did not disappoint. Second quarter GDP increased 4.1% in Q2.
“Strong consumer and business spending as well as a surge in exports ahead of retaliatory tariffs from China helped drive economic growth.”
Republicans Win With 4% GDP in Q2
President Donald Trump may have just secured the Republicans a massive win in November as the mid-terms approach. The enthusiastic President stated,
“I am thrilled to announce that in the second quarter of this year, the United States economy grew at the amazing rate of 4.1%.
We’re on track to hit the highest annual average growth rate in over 13 years.”
Furthermore,
“I will say this right now, and I will say it strongly. As the trade deals come in, one by one. We’re going to go a lot higher than these numbers and these are great numbers.”
Finally,
“During each of the two previous Administrations we averaged just over 1.8% GDP growth. By contrast, we are now on track to hit an average GDP annual growth of over 3% and it could be substantially over 3% – each point by the way means approximately $3 trillion dollars and ten million jobs.”
Perhaps the most telling stat Trump touted Friday morning involves rising private business investment.
The year prior to Trump coming into office, private business investment grew at only 1.8%. Trump reminded the world that last year it jumped to 6.3% and this year its growing at 9.4%. These kinds of private business investment numbers have not been seen in decades. The U.S. economy is on fire. Trump will use this strength to negotiate trade deals, specifically with China.
