Photographer: Al Drago/Bloomberg © 2018 Bloomberg Finance LPThe Bureau of Economic Analysis released its second estimate for September quarter’s GDP growth rate. President Trump boasted in December 2017 that the economy could grow at 4%, 5% or maybe even 6% when he was President. The economy did well in that quarter, growing at 3.5% on an annualized basis. Year-over-year growth is a better view of the economy than the calculation based on quarter-to-quarter changes in the economy since it helps mitigate any quarter’s unusual strength or weakness. Year-over-year GDP growth ShadowStats, U.S. Bureau of Economic AnalysisTrump tweeted that 1.9% growth showed the economy was in deep troubleBefore he announced his candidacy, Trump tweeted in May 2012 that 1.9% GDP growth indicated that “the economy is in deep trouble.” If he were to hold himself to the same standard he would now not be saying that the current economy “is the best ever”.

Source: Forbes November 29, 2019 13:00 UTC