Economy

Federal Reserve Raises Estimated GDP Growth to 4.6% in Q3

The Atlanta Fed boosted their estimate of U.S. annual GDP growth to 4.6% in response to home sales and costs across the country as the national economy continues to grow. The Atlanta Federal Reserve raised its estimate of real GDP growth to 4.6%

Real Estate was not the only thing that prompted the Fed’s new estimate. Business investment grew by more than 7% in Q-3, while that number remained just above 6% earlier this year. The Federal Reserve estimated that business investment contributed to the new GDP growth by 2.03%, which is up from 1.92%.

Trade is a major contributing factor towards a real GDP estimate. In light of our trade war with China and increasing sanctions against Middle Eastern countries, orders for U.S.-made goods increased more than expected in July, signifying that business investment played a key role in economic growth in the third quarter.

The president has expressed his concerns for the economy in recent rallies, and he often touts the growing stock market on Twitter and, though Trump himself does not make many television appearances anymore, his White House staff will echo his enthusiasm to his voter base.

This is yet another development complementing the growing economy that many would say is due to the president’s policy.

 

 

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