President Donald Trump’s economy has reached the longest expansion in U.S. history, beating market expectations and defying Democrats who have constantly worked to undermine Trump’s economic agenda from day one.
Real GDP grew 1.9 percent in the third quarter of 2019, beating market expectations of 1.6 percent. The economy has now entered the 123rd month of continued expansion.
The Trump economy is also beating the Obama economy in GDP growth:
- Average Obama quarter-to-quarter GDP growth was 1.9 percent
- Average Obama year-to-year GDP growth: 1.6 percent
- In 2016, the Obama economy averaged 1.6 percent growth.
- In 2017, the Trump economy average 2.4 percent growth.
- In 2018, following passage of the Republican Tax Cuts and Jobs Act, GDP growth was 2.9 percent.
American families are feeling the impact of the robust Trump economy. Average real disposable income is growing twice as fast in the Trump economy than it was under the Obama economy.
Real median household income has also grown by $4,144 or 6.8 percent since President Trump took office, according to an op-ed published in the Wall Street Journal.
This data is based on a report released by Sentier Research analyzing the Census Bureau’s monthly Current Population Survey.
The Trump economy is also outperforming other countries on the world stage. Among G7 countries, the U.S. is the only one with annual GDP growth exceeding 2 percent.
These latest economic numbers show that the Trump economy continues to outpace the anemic Obama economy by most metrics.