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U.S. Economy Roars to 4.3% Growth, ‘WILL ONLY GET BETTER’ Trump Says

The U.S. economy surged in the third quarter, posting its fastest growth rate in two years, according to new government data released Tuesday.

An initial estimate from the U.S. Department of Commerce showed third-quarter gross domestic product expanding at an inflation-adjusted annualized rate of 4.3% — well above the 3.8% growth recorded in the second quarter.

The jump was mainly driven by stronger consumer demand and a sharp rebound in exports. Consumer spending accelerated to 3.5%, up from 2.5% in the prior quarter, while exports surged 8.8%, reversing a -1.8% decline in the second quarter.

President Donald Trump wasted no time claiming credit, pointing to the sweeping tariffs his administration raised substantially during the third quarter.

“The TARIFFS are responsible for the GREAT USA Economic Numbers JUST ANNOUNCED…AND THEY WILL ONLY GET BETTER!” Trump wrote on his social media platform. “Also, NO INFLATION & GREAT NATIONAL SECURITY. Pray for the U.S. Supreme Court!!!”

Those tariffs, however, now face legal uncertainty. A pending case before the Supreme Court of the United States could invalidate many of the measures — potentially triggering large refunds to importers if the court rules against the administration.

This story is developing…

More over at The WSJ:

 



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