Trump's Victory Lap on Big GDP Number

The U.S. economy expanded at a 4.1 percent rate in the April-to-June quarter, the highest level since growth hit 5.2 percent in the third quarter of 2014, according to the Commerce Department. Trump said his tax and regulatory policies are drivers of the best economic growth in nearly 4 year, believing that trade deals will further help the economy. 
 

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(edited)

For our community it probably means quite good numbers in oil and gas demand as we see it in EIA STEO- not bad..

Edited by Tomasz

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Yep. Oil helped drive Q2 a lot. Via Bloomberg, investment in mining exploration, shafts, wells at $129.4 billion for the quarter, up from $109.2 billion in Q1. But the 4.1% GDP growth increase doesn't seem sustainable overall. It was built in part on an uptick in exports and that's because companies have been frantically exporting in order to get in ahead of tariffs. Probably looking at around 3% GDP growth for the year overall. 

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