The Trump economy is off to a strong start.
Since the spring, growth in gross domestic product has averaged about 3% — much stronger than either during the Bush or Obama presidencies.
This winter, consumers are likely to pull back again to pay off credit-card balances accumulated during the holiday shopping season. After that, confidence buoyed by a stronger job market and optimism lifted by more robust exports and stock prices should propel household and business spending and GDP growth into the 3% range again.
Overall, the annual growth trajectory has risen to an average of 2.5% to 2.7%, and taken on new, healthier characteristics.
Read Full Article »