BOOM! Trump scores...."experts" wrong abut everything.
Getting refreshments t enjoy the sure to ensue Lefthysteria , as they continue their desperate position:
~The U.S. economy grew at a much stronger-than-expected pace in the second quarter, powered by a turnaround in the trade balance and renewed consumer strength, the Commerce Department reported Wednesday.
Gross domestic product, a sum of goods and services activity across the sprawling U.S. economy, jumped 3% for the April through June period, according to figures adjusted for seasonality and inflation.
That topped the Dow Jones estimate for 2.3% and helped reverse a decline of 0.5% for the first quarter that came largely due to a huge drop in imports, which subtract from the total, as well as weak consumer spending amid tariff concerns.
~
“The anti Trump story has been that we’re going to have a recession or a depression because of the tariffs, which are going to jack up prices and cause consumers to run for the exits” Kevin Hassett, National Economic Council director, said on CNBC. “In fact, every single thing about this GDP release has shown strength.”
Consumer spending rose 1.4% in the second quarter, better than the 0.5% in the prior period. While exports declined 1.8% during the period, imports fell 30.3%, reversing a 37.9% surge in Q1.
The GDP tally showed strength across key areas of the economy, as well as evidence that inflation is ebbing though not eradicated.
The personal consumption expenditures price index, the Fed
Getting refreshments t enjoy the sure to ensue Lefthysteria , as they continue their desperate position:
U.S. economy grew at a 3% rate in Q2, a better-than-expected pace even as Trump’s tariffs hit
Points- Gross domestic product jumped 3% for the second quarter, better than the 2.3% estimate and reversing a 0.5% decline in the prior period.
- Consumer spending rose 1.4% in the second quarter, better than the 0.5% in the prior period.
- While exports declined 1.8% during the period, imports fell 30.3%, reversing a 37.9% surge in Q1.
- President Donald Trump responded to the GDP report with a fresh demand for the Federal Reserve to lower interest rates.
~The U.S. economy grew at a much stronger-than-expected pace in the second quarter, powered by a turnaround in the trade balance and renewed consumer strength, the Commerce Department reported Wednesday.
Gross domestic product, a sum of goods and services activity across the sprawling U.S. economy, jumped 3% for the April through June period, according to figures adjusted for seasonality and inflation.
That topped the Dow Jones estimate for 2.3% and helped reverse a decline of 0.5% for the first quarter that came largely due to a huge drop in imports, which subtract from the total, as well as weak consumer spending amid tariff concerns.
~
“The anti Trump story has been that we’re going to have a recession or a depression because of the tariffs, which are going to jack up prices and cause consumers to run for the exits” Kevin Hassett, National Economic Council director, said on CNBC. “In fact, every single thing about this GDP release has shown strength.”
Consumer spending rose 1.4% in the second quarter, better than the 0.5% in the prior period. While exports declined 1.8% during the period, imports fell 30.3%, reversing a 37.9% surge in Q1.
The GDP tally showed strength across key areas of the economy, as well as evidence that inflation is ebbing though not eradicated.
The personal consumption expenditures price index, the Fed
