Breaking

Post Top Ad

Your Ad Spot

Saturday, April 28, 2018

Trump economy's sustained growth pace unlike anything seen in 13 years

The economy has done something it has been unable to do since 2005 — maintain 3 percent growth for three quarters in a row.

CNBC:


In the year since President Donald Trump has been in office, the economy has done something it has been unable to do since 2005 — maintain 3 percent growth for three quarters in a row.
While the final numbers aren't in, economists Friday were ratcheting up growth projections to 3 percent or better for the fourth quarter, after December's strong retail sales and revisions to prior months.

"It could even grow at 3 percent for the year. The numbers are very strong," said Joseph LaVorgna, chief economist Americas at Natixis. He forecasts an above consensus growth pace of over 4 percent for the fourth quarter.


Economists in CNBC/Moody's Analytics Survey upped their median fourth-quarter GDP forecast Friday by a median 0.4 to 3 percent. NatWest Markets raised fourth-quarter GDP to 3.5 percent from 2.7 percent, based on a stronger view of the consumer, and the Atlanta Fed GDPNow shows fourth-quarter growth now at a pace of 3.3 percent, from 2.8 percent earlier in the week.
When the White House said it expected 3 percent growth, economists were skeptical and many growth forecasts held to growth in the 2 percent range.

READ MORE HERE:

No comments:

Post a Comment

Post Top Ad

Your Ad Spot

Pages