Posted on 11/02/2017 1:40:22 PM PDT by ForYourChildren
The U.S. economy is on track to grow at a 4.5 percent annualized pace in the fourth quarter even as data showed domestic factory sector growth retreated from a 13-1/2 year peak in October, the Atlanta Federal Reserve’s latest GDPNow forecast model showed.
The latest estimate for fourth-quarter gross domestic product growth was faster than the 2.5 percent growth rate calculated on Monday, the Atlanta Fed said.
Meanwhile, the number of Americans filing for unemployment benefits fell to a near 44-1/2-year low last week, supporting expectations of a sharp rebound in job growth in October after employment was depressed by hurricane-related disruptions in September.
Other data on Thursday showed worker productivity increased at its fastest pace in three years in the third quarter. A tightening labor market and improving productivity likely strengthen the case for the Federal Reserve raising interest rates in December, despite wage pressures remaining tame.
Initial claims for state unemployment benefits decreased 5,000 to a seasonally adjusted 229,000 for the week ended Oct. 28, the Labor Department said. That was not too far from 223,000, a 44-1/2-year low touched in mid-October. Economists had forecast claims rising to 235,000 in the latest week.
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(Excerpt) Read more at newsmax.com ...
WINNING!
#MAGA
GO TRUMP GO!!
BTTT
Go President Trump!!!
Unexpected!
Love our President, he gets it done!
And, with the US producing its own energy...
Ka-ching.
That is just YUUUUUUUUGE!!
4.5% annual growth is WAY above what anyone expected at this point - we barely even have a tax cut bill, let alone have it as law, let alone such changes having had time to have an effect (judging by the Reagan tax cuts, this will take about a year to really kick in) - and we have this fantastic report.
It is, IMHO, from 3 things: 1) deregulation (though this, too, takes time to have its full effect); 2) large increases in energy production here (so less money going overseas, more employment here, etc.); and 3) the effect of having a very pro-business and pro-American President. Of the 3, the latter is the largest effect - and we see it with companies deciding to relocate here, or to not relocate elsewhere. Those things have an immediate impact.
Just wait until the tax cuts kick in, especially the one-time “gift” for corporations to return money to the US, and the incredible cut in corporate tax rates. These will spur employment gains at big companies, which will in turn juice up both consumer spending (great for small business) and tax revenues. It is going to be a great few years ahead of us, particularly when we get a quarter at 6% or more - Leftist heads will spontaneously explode. It’ll mean that Trump is a cinch for not only a 2nd term, but for a landslide.
But I’m still disappointed in President Trump - he lied to us: I’m not tired of WINNING! just yet...in fact, my thirst for it increases over time. Just sayin’.
1st qtr: 1.2
2nd qtr: 3.1
3rd qtr: 3.0 (est. adjustment will be released Nov. 29.)
4th qtr: 4.5 (est)
11.8/4 = almost 3.0
If we can get over 3.0% GDP growth in POTUS DJT 1st year, that would beat every year of Obama.
Obama never had a single year over 3.0%
Steady as she goes Engineer Pence
I Sir....The Energy Policy is fully engaged
Captain Trump:...make that WIN Drive 9.9....
....Make it so
It’s Obama’s Recovery since Trump hasn’t really done anything for the country in his first 10 months. /s
I now read that 1st quarter has been revised to 1.4!
That would make 3.0% !!
The left will blame it on the Jooz.
“Obama First President Since Great Depression Not to See 3% GDP Growth”
POTUS DJT may see 3% in his 1st year!!
Obama, looking puzzled: ‘Hmm. So Trump really does have a magic wand. Who knew?’
A good indicator is check your local paper if they report building permit activity from the local government. Another is to check your local engineering firms to see if their work load is busy.
I just left a small firm and we were swamped the day after the election and 11 months later folks are still pouring in.
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