Trump Economy Booming With Massive 3.2 Percent Growth In First Quarter

Despite the fact that Democrats and the media have tried to block Trump at every single turn, he has still managed to deliver on the economy better that anyone expected.

The Hill reports:

US economy grew at 3.2 percent in first quarter, exceeding expectations

Economic growth in the U.S. blew past expectations in the first quarter of 2019, easing fears of an impending slowdown that kicked off the year.

U.S. gross domestic product (GDP) grew at an annual rate of 3.2 percent in the first quarter of 2019, according to an initial estimate of growth released Friday by the Commerce Department.

Economists had expected U.S. GDP to grow roughly 2.5 percent between the first quarters of 2018 and 2019, typically one of the weaker periods for the American economy. Shaky financial markets, lagging retail sales and weak job gains all improved over the course of the first four months of 2019, improving the overall economic outlook along the way.

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Increases in consumer spending, private inventory investment, nonresidential fixed investment, exports and nonfederal government spending helped drive strong first quarter growth, the Commerce Department said.

The second estimate for first-quarter growth, based on a fuller set of data, will be released on May 30.

The surprisingly high first quarter growth rate is the latest sign of strength for the U.S. economy well into its 10th year of expansion since the Great Recession. The economy grew at a solid 2.9 percent rate in 2018, but slowing growth and severe financial market turmoil to end the year raised concerns of an impending slowdown.

Trump economic adviser Larry Kudlow says this is only the beginning.

FOX News reports:

Larry Kudlow: GDP jump shows the Trump economy is at the beginning of a prosperity cycle

In response to the news that the U.S. economy rose 3.2 percent in the first quarter of 2019, White House National Economic Council Director Larry Kudlow said that this “prosperity cycle” will continue if President Trump’s policies stay in place.

Calling the advance in gross domestic product a “blow-out number,” Kudlow told “America’s Newsroom” Friday that it serves as concrete proof Trump’s measures to grow the economy have been successful.

“I’ll just say, Trump’s policies to rebuild the economy, lower taxes, regulations, opening energy, trade reform. Look, this stuff is working,” he said.

“It tells me, among other things, that the prosperity cycle we have entered into is continuing, it is strong. It has legs and momentum and frankly it is going to go on for quite some time,” he continued. “This is the new Trump economy. Some people don’t like that or they don’t agree with that. I respect the differences but I’ll tell you it’s working.”

This is fantastic news for Americans but bad news for the Democrats running in 2020.

 

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