Trump Factor: Federal Reserve of Atlanta Predicts Massive 3.7% GDP for Third Quarter
The rate of real economic growth is the single greatest determinate of both America’s strength as a nation and the well-being of the American people.
Barack Obama was the only U.S. president in history who did not deliver a single year of 3.0%+ economic growth.
Obama averaged less than 2% growth in his years in office.
According to Louis Woodhill, President Barack Obama left office with the fourth worst economic record in US history.
Assuming 2.67% RGDP growth for 2016, Obama will leave office having produced an average of 1.55% growth. This would place his presidency fourth from the bottom of the list of 39*, above only those of Herbert Hoover (-5.65%), Andrew Johnson (-0.70%) and Theodore Roosevelt (1.41%)
But all of that is changing under the leadership of President Trump. Employment numbers are improving, the stock market is at a record high and the GDP is climbing.
The Federal Reserve Bank of Atlanta forecast a 3.7 percent rate for the third quarter of 2017.
The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the third quarter of 2017 is 3.7 percent on August 15, up from 3.5 percent on August 9. The forecast of the contribution of personal consumption expenditures to third-quarter real GDP growth increased from 1.91 percentage points to 1.97 percentage points after this morning’s retail sales release from the U.S. Census Bureau.