BOOM! Atlanta Fed Upgrades Trump First Quarter GDP to 5.4%
Since his inauguration President Trump has focused his efforts on the security of the country and on the prosperity of its economy.
The results of his actions are historic.
The US GDP has increased each quarter in 2017 with the 3rd Quarter GDP increasing to $19.496 trillion – the highest GDP for any country in world history.
On the other hand, the President has curtailed US spending. The result is that the US Debt to GDP ratio has decreased year to date from 105% to 104%.
No President in more than 50 year years has decreased the Debt to GDP ratio in his first year in office by more than 1%.
The stock market has set 99 new records since Donald Trump won the presidential election in 2016.
The stock market is up over 40% since his stunning victory.
The Atlanta Fed upgraded the US first-quarter GDP growth to above 5%.
To put this in perspective — Barack Obama never pulled off a single year ABOVE 3% GDP growth.
The U.S. economy is on track to grow at a 5.4 percent annualized rate in the first quarter following the latest data on manufacturing and construction spending, the Atlanta Federal Reserve’s GDPNow forecast model showed on Thursday.
The latest estimate on gross domestic product was faster than the 4.2 percent growth pace calculated on Monday, the Atlanta Fed said.
Hat Tip Tony