Trump Economy Grows 3.2% in Q1, Majorly Smashing All Expectations
The predictions were clear for weeks, many expected the U.S. economy to grow by 2.5% in the first quarter. That is clearly not what happened as the advance in the gross domestic product (GDP) came in at a thriving 3.2%. The President noted that inflation was staying low, which is very important.
Since the day that Trump took office, creating a confidence in the business world that had been lacking, the economy has just continued to get better and better.
Unemployment levels are at lows not seen in my lifetime, and I am old! We are seeing record not seen in a half a century, in many sectors. Women and Minorities are seeing incredible low unemployment,
Wages are rising, and inflation is staying low, and that is almost unheard of during economic growth. Disposable personal income saw a boost of 3 percent. Overall prices climbed by only 0.8% in the first quarter.
Gross domestic product for the first quarter was the best start to a year since 2015.
All the markers are on.
The more people working, the faster the raises come, the more confidence in spending. The more confidence in spending, the better the businesses do. The better the businesses do, the more they pay.
Many are hoping for a recession, I don’t see it for a while. Too many people are working.
President Trump reacted to the news tweeting: “Real GDP for First Quarter grew 3.2% at an annual rate. This is far above expectations or projections. Importantly, inflation VERY LOW. MAKE AMERICA GREAT AGAIN!”
Just out: Real GDP for First Quarter grew 3.2% at an annual rate. This is far above expectations or projections. Importantly, inflation VERY LOW. MAKE AMERICA GREAT AGAIN!
— Donald J. Trump (@realDonaldTrump) April 26, 2019
He deserves it!
Breitbart explains some of the significance:
It was the strongest first-quarter growth rate since 2015. In recent years, GDP has been exceptionally weak in the first quarter. There had been fears growth could dip below 1 percent this year due to a variety of adverse factors such as the December stock market nosedive, rising weakness in key economies overseas, the U.S. trade war with China and a 35-day partial government shutdown that ended in January.
However, the economy shrugged off those concerns, helped by an announcement in early January from the Federal Reserve that after raising rates four times last year, it was declaring a pause on further rate hikes.
That spurred a stock market rebound by easing concerns that the central bank might overdo its credit tightening and send the country into a recession.
With inflation still subdued, it’s too early to start worrying about Fed rate hikes again.
Personal consumption increased 1.2% in the first quarter, higher than the 1% expected and the 0.5% annualized pace in the first quarter of 2018. However, that figure was lower than in the fourth quarter, when consumption grew at a 2.5% rate. Consumer spending comprises about two-thirds of U.S. economic activity.
The great numbers just continue on and on. We are growing. We are in the midst of the best economy of my lifetime.
Barack Obama and Hillary said it could not be done. Obama said it would take a magic wand. The predictions were dire. If Trump won, we would fall into a catastrophe. It did not happen and we are beyond halfway through his first term.
Peirs Morgan tweeted that if this continues, Trump walks away with 2020 and I believe it.
BREAKING: US first-quarter GDP rockets by 3.2%, vs 2.5% expected growth. Brace yourselves Trump-haters, if the economy keeps doing so well, President @realDonaldTrump will be almost unstoppable in 2020.
— Piers Morgan (@piersmorgan) April 26, 2019
What is unbelievable to me, is that there are many hoping our prosperity ends.