Sep 29, 2017

Trump touts GDP growth

President Trump in a speech today touted his Administration's early economic record, noting that second quarter GDP yesterday was revised upwards to 3.1%, a figure he said "hasn't been seen in a very, very long time."

Bottom line: "Very, very long time" is in the eye of the beholder. The U.S. last hit the 3.1% GDP mark in the first quarter of 2015, when it actually was 3.2%. It also bested the 3.1% mark in four of the six prior quarters, going back to Q3 2013 (per U.S. Department of Commerce data).

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