The Economy Is Strong And It's Getting Stronger According To President Trump

Trump Breaks Tradition on GDP Figures

Illustrating the volatility of some elements of GDP, net exports contributed 1.06 percentage point to the pace of growth, the most since 2013, partly on a surge in soybean shipments ahead of retaliatory tariffs.

Business spending, which is getting a boost from lower corporate taxes, is one of the factors supporting a projected pickup in second-quarter economic growth.

Gross domestic product increased at a 4.1pc annualized rate also as government spending picked up, the Commerce Department said in its snapshot of second-quarter GDP on Friday.

This is the first time since the 2016 election that USA growth has hit the 4% target President Trump set himself during the campaign. But private forecasters cautioned that the April-June pace is unsustainable because it stems from temporary factors. That means for the entire year, growth will be about 3%, not much better than we have seen in the past few years. In 2016 when CNNMoney surveyed 11 economists, who claimed, "Donald Trump is dreaming" after then-candidate Trump said it's time to establish the goal of meeting four percent economic growth.

Economists are generally predicting slower growth in the second half of the year, though, as the effects of the tax cut wear off and rising interest rates depress consumer spending. Economic growth also increased by 2.9 percent in the fourth quarter, 3.2 percent during the third, and 3.1 percent during the second quarter of past year.

Harley Davidson forays into entry-level 250-500cc class motorcycles
Harley-Davidson also said it was moving the Livewire availability to August 2019, and released an updated picture (below). Harley-Davidson is also changing its retail strategy and expanding its push internationally following declining USA sales.

The President also pointed out a decrease in trade deficit with a number of countries and vowed economic growth for the US will continue as a number of agreements are renegotiated.

US President Donald Trump welcomed economic growth of 4.1 percent in the second quarter, calling it an "amazing rate", and pledged the numbers were sustainable. Second, exports rose 9.3 percent.

Bankrate.com's Hamrick said 3 percent growth "is worth celebrating". The jump in the latest period was paced by consumer spending, which rebounded to a 4.0% pace in the second quarter from the first quarter's weak 0.5% pace.

The trade dispute with China, for example, prompted buyers to rush purchases of US soybeans before Chinese retaliatory tariffs raised costs for that key market for America's largest agricultural export, according to Bankrate.com analyst Mark Hamrick.

Consumer spending grew 4 percent, more than expected, while nonresidential business investment climbed at a pace of 7.3 percent.

Five Dead as California Wildfire Consumes More Homes
Bledsoe said he did not know his home was in danger when he left his wife and great-grandchildren to run an errand on Thursday. Fire officials said Monday they hope to lift evacuation orders to let residents back into their homes.

Zandi forecast that growth for 2018 will reach 3 percent, which would be the best rate since before the Great Recession.

The robust results put growth in the first half of the year at just over three per cent, matching a White House target and faster than the trend in previous years.

The growth rate was the strongest it has been since the third quarter of 2014.

"GREAT GDP numbers just released". That revision showed that growth in 2017 came in at 2.2 percent, slightly lower than the 2.3 percent previously reported. Annual growth has averaged just 2.2 percent since mid-2009 through the end of a year ago, the same as previously reported.

Tiger Woods opens at 16-1 odds to win PGA Championship
Now at a career-best No. 6 in the world, he has won three times and been runner-up twice in his last six tournaments. Spieth had his own issues, of course, kicking away a share of the lead on his way to a fat 76 in the final round.

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