By Jeremy Diamond, CNN
President Donald Trump on Friday seized on a strong GDP growth rate for the second quarter of the year to tout the economic gains made during his presidency and argued the US is experiencing an economic boom.
The US economy grew at a 4.1% annual rate in the second quarter of the year, a figure Trump touted as “amazing” and sustainable — even as economists caution economic growth for the second half of the year will likely be slower.
“These numbers are very, very sustainable — this isn’t a one-time shot,” Trump said on Friday, speaking from the South Lawn of the White House.
The President was flanked by Vice President Mike Pence and his top economic advisers, including Treasury Secretary Steve Mnuchin, Commerce Secretary Wilbur Ross, US Trade Representative Robert Lighthizer and Office of Management and Budget Director Mick Mulvaney.
Trump assessed that the economy is on track to hit an annual GDP growth rate of over 3%
The US is experiencing an “economic turnaround of historic proportions,” the President said.
Trump also touted a decrease in the US trade deficit in the most recent quarter, calling it “one of the biggest wins.”
Economists have said exports largely increased in the last quarter amid efforts by US companies to get products out before additional retaliatory tariffs take effect.