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The success of a presidency can depend just as much on luck as skill. The economy, which is subject to powerful forces other than just public policy, is especially an area where a president can be aided by good fortune.

On most measures of economic health, President Trump's inheritance is generally richer than his predecessors' — save for one: per capita GDP growth. This is partly the result of a serious slowdown in corporate investment and labor productivity growth, two problems he hopes his tax and regulatory reforms will solve.

But today jobs are being created, the unemployment rate is low, and wage-growth is accelerating. These trends have put consumers in a good mood, and primed the wider economy for faster growth.

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Data: Bureau of Labor Statistics, Bureau of Economic Analysis, University of Michigan; Chart: Andrew Witherspoon / Axios

But this is just the starting line: Presidents aren't remembered for where the economy was when they were inaugurated. It's the end of the term that matters. So Trump could be blessed with good fortune now, only to be blamed if economic fortunes turn.

Go deeper

Updated 7 mins ago - World

Mapping repression in China's Xinjiang region

Data: © Mapbox, © OpenStreetMap; Map: Will Chase/Axios

A sweeping new report released today by an Australian research organization reveals new details about how the Chinese Communist Party — and specifically who within the party — is carrying out its campaign of repression in Xinjiang.

Why it matters: Uncovering the actual offices and individuals implementing the Chinese government's genocide and forced labor policies in Xinjiang can bring accountability and help international companies delink supply chains in compliance with U.S. and EU forced labor laws.

Updated 25 mins ago - Politics & Policy

Celebrities are America's new politicians

Illustration: Annelise Capossela/Axios

Launching gubernatorial bids, making presidential endorsements, founding schools: Celebrities are getting increasingly involved in U.S. public and political life.

Why it matters: As we've reported, politics is no longer just the purview of career politicians, as companies and their CEOs throw their weight around to affect policies. Now, movie stars, famous musicians and professional athletes also are using their influence in politics.

Updated 26 mins ago - Sports

Baseball's minor leaguers get a major win

Illustration: Sarah Grillo/Axios

Starting next season, MLB teams will be required to provide housing for minor league players.

Why it matters: "This is a historic victory," Harry Marino, director of the nonprofit Advocates for Minor Leaguers, told ESPN. It's also just the beginning of a fight for improved quality of life.