Despite Impeachment, Virus, You Name It, GDP Q4 Comes In At 2.1%

January 30, 2020

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Despite Impeachment, Virus, You Name It, GDP Q4 Comes In At 2.1%

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.

Secretary Wilbur Ross says coronavirus will be good for [checks notes] American jobs: "I think it will help to accelerate the return of jobs to North America." pic.twitter.com/Y4SbDIcTi4
— Aaron Rupar (@atrupar) January 30, 2020

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.

Author

CDM Staff

The mission at Creative Destruction Media is to be the catalyst for the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."