Friday, October 28, 2016

GDP Grows By 2.9% - Biggest Gain Since 2014


Donald Trump can rant and rave all he wants to about how "disastrous" and "terrible" the U.S. economy is and how we are headed in the wrong direction, but the facts suggest otherwise.

The Wall Street Journal's headline: "U.S. Economy Roars Back, Grew 2.9% in Third Quarter - Growth rate was the fastest recorded in two years"

Reuters: "Wall St. rises amid robust GDP data"

More from USA Today:

The economy bounced back from a prolonged slump in the third quarter as exports surged, businesses replenished depleted stocks and consumer spending picked up moderately.

The nation’s gross domestic product, the value of all goods and services produced in the economy, increased at a seasonally adjusted annual rate of 2.9%, the Commerce Department said Friday, the biggest gain in two years. Economists surveyed by Bloomberg had forecast 2.6% growth.

Additionally, exports surged by 10% helping to close the trade gap.

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