"I will say this right now and I will say it strongly, as the trade deals come in one by one, we are going to go a lot higher than these numbers and these are great numbers", he said.
Boosted by a 4-percent jump in consumer spending and a 13.3 percent surge in goods exports in the second quarter, the economy expanded at its fastest pace since the 4.9-percent rate of the third quarter of 2014.
The economy's solid performance last quarter gave Trump a chance to bask in his policy victories, including the biggest tax overhaul since the Reagan era.
What was settled in the Trump-Europe trade rift?
Rabobank International Ltd. predicted in June that the US may overtake Brazil as the biggest soybean exporter to the EU. He has slapped taxes on imported steel and aluminum, saying they pose a threat to USA national security.
Most independent economists say this quarter's growth was juiced by stimulus from the trillion-dollar tax cut and a one-time rush by foreign companies to stock up on USA goods before Trump'strade war escalated and tariffs kicked in on many products. Trump has said he sees annual growth of 3 percent or more as sustainable. It's the first time the economy has grown more than 4 percent in a quarter since 2014. That followed a downwardly revised 0.5 percent pace of consumption growth in the prior three months. Growth will slow, but we may not have a recession.
The front-loading of soybean exports, however, depleted farm inventories. "If growth continues at 3.0% the next two quarters, then real GDP growth will indeed make it to 3.1 percent on a Q4/Q4 basis", he wrote.
In addition to lower taxes, consumers' purchasing power is benefiting from steady hiring, an unemployment rate that's near the lowest since 1969, improving finances, relatively low borrowing costs and contained inflation.
Business spending, which is getting a boost from lower corporate taxes, is one of the factors supporting a projected pickup in second-quarter economic growth.
Nonresidential fixed investment - reflecting spending on commercial construction, equipment and intellectual property products - rose at a 7.3 per cent rate. His two-term average of 1.6 percent annual growth is the worst among post-World War II presidents.
The export rally likely reflected efforts by buyers to get their soybeans before China's 25 per cent retaliatory tariffs on United States soybeans, which hit in July. Government spending grew at a 2.1 per cent rate, quickening from the first-quarter's 1.5 per cent pace. A bump in federal government spending also added to the pickup in growth this spring as Congress approved additional money for the military and domestic programs.
In the April-June period, consumer spending had its biggest bounce in almost four years, with Americans buying more cars and spending more liberally on health care, housing, utilities, restaurants and hotels, according to the Commerce Department report. Both rates and stocks have cooled recently, but stocks have leveled off at a range that anticipates an economy that will grow significantly faster than it has.
Everybody wins when we grow the economy - Democrats and Republicans alike. "This will support the outlook for 3 percent-plus growth in 2018 and continued Fed policy to raise the funds rate in September".
"We felt aftershocks for two hours after the initial quake , so we're anxious that there could be more damage caused", he said . At least three people have died in the quake so far, and there are reports of widespread damage and destruction to buildings.
Roseanne Barr talks with Fox News talk show host Sean Hannity while being interviewed during a taping of his show Thursday in NY . The original Roseanne writers, producers and cast members, excluding Barr, will work on the new show. "I've apologized a lot".
It's said that Sevilla "may be willing to budge on their asking price should N'Zonzi senior agree to forfeit the clause". Apparently the France global "is waiting for permission from his father before he can complete a move".
Officials are now saying that the meeting ended quite positively, and that both sides agreed to hold more meetings in the future. The Afghan president's office said Saturday that it welcomed any support for peace efforts.
Facebook's shares were worth $629.6 billion Wednesday, but, by Thursday, were worth only $506.2, according to Tech Crunch . He claims the marketplace was "shocked" when the "truth began to emerge" from the social media giant.
Attacks against Israelis in the West Bank are supported by many Palestinians as pushing back against settlement growth. All Israeli settlement construction in the occupied West Bank is considered illegal by the global community.
He has done well in the Bundesliga , so we're talking about a striker that's doing well in the last few years at worldwide level". Fulham reportedly have a £20m bid for Serbia forward Aleksandar Mitrovic accepted by Newcastle United .
Investors were also concerned by figures which showed the number of active users has also grown less quickly than expected. But as I've said on past calls, we're investing so much in security that it will significantly impact our profitability.
Mohamed Sultan, a Cairo official in charge of the park, denied to local radio station Nogoum FM that the zebra was a fake. The black paint had melted on the donkey's face and the ears didn't look like the right size for a zebra , he said.
However, investigators say they are confident the aircraft was deliberately flown off course and into the Indian Ocean . Copies of the MH370 briefing report are seen at the press conference in Putrajaya July 30, 2018.
They said she had failed to establish in the legal sense that her marriage had broken down irretrievably. Mrs Owens's solicitor, Simon Beccle, told The Times that his client is "devastated" at the decision.
Facebook user numbers disappoint, stock nosedives
Analyst Ross Sandler with Barclays asked if revenue growth was set to drop to "around 20% by the fourth quarter of this year". Before the results were announced, Facebook's shares had closed in NY at $217.50, a record high, and had gained 23% this year.