More winning: US GDP soars past $19 trillion for first time in American history

Thanks to President Trump, not only has the US Stock Market set multiple all time high records, the US GDP just soared past $19 trillion for the first time  – ever.

The second quarter US Gross Domestic Product annual growth rate released on Friday showed two times the rate from the first quarter under Trump according to the US Bureau of Economic Analysis.

“Real gross domestic product increased at an annual rate of 2.6 percent in the second quarter of 2017, according to the ‘advance’ estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 1.2 percent, (revised up from the original 0.7 percent growth),” the BEA reported.

According to the Bureau of Economic Analysis:

GDP is one of the most comprehensive and closely watched economic statistics: It is used by the White House and Congress to prepare the Federal budget, by the Federal Reserve to formulate monetary policy, by Wall Street as an indicator of economic activity, and by the business community to prepare forecasts of economic performance that provide the basis for production, investment, and employment planning.

Second quarter US GDP grew to $19.2 trillion, up from $19.1 trillion at the end of the first quarter. That surpassed the end of 2016 which saw the GDP at $18.9 trillion, according to the BEA. in just two quarters under Trump, the US GDP has grown by more than $300 Billion.

Talk about winning.

As a matter of fact, former President Obama’s first two quarters in office saw the GDP shrink by more than $200 billion.

While the GDP rates are impressive on their own, the US stock market has benefited from the Trump presidency as well, up 19 percent since the election.

The Dow Jones Industrial Average closed at 21,796 on Friday, its 28th all time high of 2017.

That’s a lot of first and all-time-highs, and Americans are grateful.

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Frieda Powers

Senior Staff Writer
[email protected]

Originally from New York, Powers graduated from New York University and eventually made her way to sunny South Florida where she has been writing for the BizPacReview team since 2015.
Frieda Powers

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