Posted on 11/29/2017 11:29:29 AM PST by Enlightened1
The economy’s rate of economic growth was revised up Wednesday to the fastest pace in three years, the Commerce Department said Wednesday.
Gross domestic product grew at a 3.3 percent annualized rate in the July through September period, an increase from the previous estimate of three percent. The increase means economic growth was stronger in the third quarter than previously believed despite the damage done by hurricanes Harvey and Irma
The revision also shows that the economy has been growing at a rate closer to what President Donald Trump said he would achieve than what many economic forecasters thought was likely.
Consumer spending few at a 2.3 percent rate. Corporate pretax earnings rose 5.4 percent compared with a year earlier.
The most recent GDP report is the second of three estimates. The final read is due in December.
(Excerpt) Read more at breitbart.com ...
Thank You God for President Trump!
If we get the tax, then we could possibly see 7-10% growth!
Obama never got 3.0 GDP, and we were told we would never see a 3.0 GDP again. Once again the experts were wrong.
But...But....They said it couldn’t happen...
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BOOM! The accelerating economy is due, IMHO, to the first waves of cleaning up the Statists’ crippling regulations and “orders”. Wait till they see the results of CONTINUING deregulation’s and, most importantly, the new TAX CHANGES! Add in renegotiations of trade agreements and.......WINNING!
Chances are the hurricanes actually boosted the economy. Think of all the things that needed to be cleaned, repaired, replaced, rebuilt, etc.
CC
“Obama never got 3.0 GDP”
Not for a whole year, no.
https://www.bea.gov/newsreleases/national/gdp/gdp_glance.htm
But Trump hasn’t got it either, yet, as 1Q 2017 came in at a bit over 1%. Its way too early.
lol - Great movie..
I recall Obama’s growth numbers were always being revised downward, never upward. This upward revision could be a first in many years.
I was trying to find the revision s to Obama’s initial GDP numbers but can’t find them anywhere. It would be an interesting metric to look at.
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