The Trumpconomy is rolling. Strong job growth, 26% higher than expected and the economy is growing at more than twice the rate of the pitiful 2016 Obamaconomy rate of 1.6%!
WASHINGTON (AP) —
The U.S. economy lost momentum in the final three months of 2016, closing out a year in which growth turned in the weakest performance in five years.
The gross domestic product grew at an annual rate of just 1.9 percent in the October-December period, a slowdown from 3.5 percent growth in the third quarter, the Commerce Department reported Friday. GDP, the broadest measure of economic health, was held back by a jump in the trade deficit.
For 2016, the economy grew 1.6 percent. It was the worst showing since 2011 and down from 2.6 percent growth in 2015.
The first jobs report of the Trump era just dropped and it was better than expected.
In January, the US economy added 227,000 jobs while the unemployment rate rose slightly to 4.8%. Economists were looking for payrolls to grow by 180,000 with the unemployment rate expected to hold steady at 4.7%.
Latest forecast: 3.4 percent — February 1, 2017
https://frbatlanta.org/cqer/research/gdpnow/?panel=1The GDPNow model forecast for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2017 is 3.4 percent on February 1