The Trump economy beat expectations again. The government’s first estimate of third-quarter growth, released Thursday morning, showed the U.S. economy grew at an annual rate of 3.4%, ahead of the 3.2% that forecasters expected.
The White House Rapid Response team shared the news with a simple message: it is “a major boost to President Trump’s economic agenda” and shows the strength of the overall economy.
Kevin Hassett said the pattern keeps repeating. “What keeps happening is that the real output numbers have been outperforming analyst forecasts by a lot,” he said. “And this is another example of that, that we’ve got really huge 3% growth that’s headed towards 4% growth.”
He said big imports of capital goods held the number down, and those machines “are going to produce future GDP.” He added that a supply-side boom puts downward pressure on prices, noting that the GDP price measure “was right about at the Fed’s target.”
Five days before the midterms, the numbers tell the story President Trump has been telling on the trail: tax cuts, tariffs and American energy are building a stronger economy for working families.
