New statistics released by the Congressional Budget Office projected record breaking GDP growth throughout 2018; smashing expectations and signaling a robust US recovery under President Trump and the GOP-controlled Congress.
According to CNS News, the strong data shows Gross Domestic Product growing by at least 3.3 percent from the fourth quarter of 2017 to the fourth quarter of 2018; the highest level of growth seen in at least 15 years.
“In CBO’s projections, real GDP expands by 3.3 percent this year and by 2.4 percent in 2019,” says the CBO report. “It grew by 2.6 percent last year.”
“In our economic projections which underlie our budget projections, inflation-adjusted GDP–or real GDP–expands by 3.3 percent this year, and by 2.4 percent in 2019,” added the CBO Director.
The new data signals a growing US economy just months after President Trump signed the recently passed GOP tax cuts into law; unleashing American businesses and putting millions of dollars back into workers bank accounts.