USA economy records fastest growth since 2014

Trump Breaks Tradition on GDP Figures

The president also boasted the economy's performance is "far ahead of what anybody thought" it could be under his leadership.

The US economy has surged in the April-June quarter to an annual growth rate of 4.1%.

"Trump has to be careful not to overhype this".

Democrats claim Trump is merely enjoying gains prompted by Obama since some of the positive trends started towards the end of his presidency. "Wage growth has been anemic".

President Donald Trump is predicting growth will accelerate under his economic policies.

"If the U.S. and its partners do implement substantial tariffs and other trade barriers, United States economic growth is likely to be much weaker than this baseline forecast", chief economist Gus Faucher wrote.

"One of the more underreported stories is we now have a trade deficit that dropped by more than $50 billion", said Hannity.

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

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Trump said the higher growth will carry on.

"These numbers are very, very sustainable". "This isn't a one-time shot".

PRESIDENT DONALD TRUMP: At 9.4 percent - so that's a very tremendous increase.

Economists also believed that the US economic growth is likely to slow down in the second half of the year as the fiscal stimulus gradually fades and the Federal Reserve further increases interest rates. House Minority Whip Steny Hoyer (D-Md.) recently credited the former president for the improving economy while unveiling an update to his job growth platform Monday.

January-March quarter GDP growth was revised up to a 2.2 per cent pace from the previously reported 2.0 per cent rate to account for new source information and methodology improvements. "This will support the outlook for 3 percent-plus growth in 2018 and continued Fed policy to raise the funds rate in September". That means some exports simply happened in the second quarter instead of the third, which means third-quarter exports will probably be lower.

"The question is, how much are firms willing to stock up with the threat of a trade war?" she said in a research note. But this spring, business investment in equipment was sluggish, chugging along at its slowest pace since late 2016. A bump in federal government spending also added to the pickup in growth this spring as Congress approved additional money for the military and domestic programs. Federal-funds futures were pricing in a 93% probability for another 25-basis-point increase in the central bank's target rate (currently 1.75%-2%) at its September 25-26 meeting, unchanged from Thursday, according to Bloomberg.

"Growth is likely peaking", said Bricklin Dwyer, senior USA economist at BNP Paribas. But Trump's rosy take on the long-term health of the United States economy also stood in contrast to assessments that the 4.1% growth last quarter was boosted by a spike in exports driven by trade war fears.

Associated Press writers Jill Colvin in Peosta, Iowa, and Granite City, Ill., and Hope Yen, Darlene Superville and Ken Thomas in Washington contributed to this report.

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