Trump predicts US gdp to top 5% next quarter
President Donald Trump on Tuesday predicted US economic growth would soon hit above 5% in a bullish speech hailing his administration’s business record. Speaking to business leaders at a lavish dinner party at his New Jersey golf course, Trump said growth “could be in the fives” by the next quarter.
“Nobody thought would be anywhere above, even close to 2 (percent), and we’re at 4.1. And I think we’re going much higher,” he said. “We anticipate this next quarter to be, this is just an estimate, but already they’re saying it could be in the fives,” he added.
With the size of the American economy now surpassing $20 trillion, GDP expanded by 4.1% in the April-June quarter, making the United States the fastest-growing of advanced countries, according to a government report. The second quarter acceleration — the highest in four years — came in part after the injection of stimulus and Republican tax cuts.
“Nobody thought would be anywhere above, even close to 2 (percent), and we’re at 4.1. And I think we’re going much higher,” he said. “We anticipate this next quarter to be, this is just an estimate, but already they’re saying it could be in the fives,” he added.
With the size of the American economy now surpassing $20 trillion, GDP expanded by 4.1% in the April-June quarter, making the United States the fastest-growing of advanced countries, according to a government report. The second quarter acceleration — the highest in four years — came in part after the injection of stimulus and Republican tax cuts.