Finally: Signs of a real economic recovery for the USNY Post, Dec 30, 2017, Editorial Board
Christmas brought some good news for the US economy: the best holiday-season retail-sales spike since 2011. Actually, it’s an encouraging sign for the entire economy. And it comes amid a host of other welcome indicators.
US GDP, for example, is now on pace to grow at an annual rate of about 3 percent for the first three full quarters of President Trump’s term. Compare that to the less than 2 percent average annual growth under President Barack Obama. Indeed, not a single year saw 3 percent growth or more under Obama, the only president in modern history with such a sorry record. Things may finally be turning around.
“The economy is firing on both engines — consumer spending and business equipment purchases — as we head into the end of the year,†MUFG economist Chris Rupkey said last month. Meanwhile, consumer confidence in November hit its highest level in 17 years, and remained high in December. Housing prices have been rising. Unemployment, at 4.1 percent, is low and set to push up wages.
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https://nypost.com/2017/12/30/finally-signs-of-a-real-economic-recovery-for-the-us/
