More good news for the Trump presidency as economic growth continues to dramatically outpace the GDP growth rate of his predecessor;
Gross domestic product increased at a 3.1 percent annual rate in the April-June period, the Commerce Department said in its third estimate on Thursday. The upward revision from the 3.0 percent rate of growth reported last month reflected a slightly faster pace of inventory investment.Growth last quarter was the quickest since the first quarter of 2015 and followed a 1.2 percent pace in the January-March period. Economists had expected that the second-quarter GDP growth rate would be unrevised at 3.0 percent.
With the latest announcement of tax cuts and the repatriation piece, expect a robust growth quarter over quarter going forward (with obvious exceptions related to hurricane setbacks).