The anti-Trump media doesn’t want to admit it but we just had some relatively astounding gross domestic product (GDP) numbers come out this morning for the fourth quarter of last year. In spite of the never-ending impeachment waste of time, the trade war with China, and the coronavirus outbreak, the American economy still grew at a healthy rate, a level Obama rarely reached.
Gross Domestic Product Annualized (Q4) PREL printed at estimates of 2.1%.
Initial Jobless Claims (Jan 24) printed at 216k vs 215k consensus estimate.
Core Personal Consumption Expenditures (QoQ) (Q4) PREL printed at 1.3% vs 1.7% estimate.
Continuing Jobless Claims (Jan 17) printed at 1.703M vs 1.733M estimate.
The GDP number it seems was helped by a reduction in imports, despite the drop in consumption.
On another note, Commerce Secretary Wilbur Ross today trolled the Chinese, saying coronavirus will help bring manufacturing back to the United States.
Also yesterday, American trade representatives declared tariffs would not be eased on china during the virus outbreak.
It seems this administration is serious about fixing the problems with American international trade.