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August 31, 2017
Did Trump cause the improved GDP growth?
Real GDP rose by 3.0% during the second quarter of 2017, the fastest quarterly rate in over two years, according to data released on Wednesday by the Commerce Department. Did President Trump cause the accelerating economic growth? The answer is yes. The rapid growth was led by a surge in business fixed investment (purchases by businesses of new tools and structures). If not for that surge, real GDP would have grown by only 2.2%. The following table shows the contributions of the different types of spending upon economic growth during the second quarter: Consumption 2.28% Investment Business Fixed Investment ...(Read Full Post)