Trump touts American economy’s growth in first quarter

President Trump on Friday hailed robust economic growth in the first quarter, saying that the 3.2 percent rise in the gross domestic product showed that his economic policies were working.

“The GDP numbers were just announced and they were far higher than even the high expectation. There were many people who thought it would [be] less than 2, and they were at 3.2,” he said while leaving the White House for a jaunt to Indiana to speak at the NRA’s annual shindig.

“Inflation numbers are very low. The gasoline prices are coming down. I called up OPEC. I said, ‘You got to bring them down. You got to bring them down.’ And gasoline is coming down. We’re doing great.”

In fact, according to AAA, the average price for a gallon of regular was $2.88 this week, compared to $2.64 one month ago and $2.79 a year ago.

The president also touted the overall economy.

“GDP is an incredible number. But remember this: Not only that, we have a great growth — which is growth. We have great growth and also very, very low inflation. Our economy is doing great. Number one in the world. We’re number-one economy right now in the world and it’s not even close,” the president said, according to a White House transcript.

Experts said the burst in growth was driven by trade and the largest accumulation of unsold goods since 2015, temporary factors that are likely to reverse in the coming quarters.

Growth was also boosted by an increase in government investment, which offset sharp slowdowns in consumer and business spending.

The economy grew at a 2.2 percent pace in the October-December period.

With Reuters

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