WASHINGTON – The U.S. economy posted stronger than expected performance during the first quarter of this year.
According to the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA), Q1 2019 Gross Domestic Product (GDP) numbers show the real gross domestic product increased at an annual rate of 3.2% in the first quarter of 2019.
“This blockbuster GDP report shows that President Donald J. Trump’s policies are unleashing the vitality of the American economy, fulfilling the President’s promise for 3% economic growth and benefiting American workers in the form of better jobs and higher wages,” said Secretary of Commerce Wilbur Ross in a statement. “The Trump economy has repeatedly defied the skeptics who predicted an economic downturn and has restored America’s position in the world as a consistent source of economic growth.”
The Commerce Department said during the first two months of the year the trade deficit also declined and unemployment, at 3.8%, remains at a record low, as wages also increased 3.4% during February.