U.S. economic growth for the second quarter, which will be released by the Department of Commerce on Friday, will likely be a “very good” number, according to President Trump’s chief economic adviser.
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“You’re going to get a very good economic growth number tomorrow,” Kudlow told FOX Business’ Stuart Varney during an interview on Thursday.
While Kudlow has no formal knowledge of the number, he suggested GDP growth could surpass 4%. Economists polled are predicting a read of 4.2%. The Federal Reserve Bank of Atlanta’s GDPNow tracker, which last week estimated it could hit 4.6%, has tempered that down to 3.8%.
Earlier this week, FOX Business reported the White House is preparing to take a victory lap on the progress the economy is making , hanks to efforts like the 2017 Tax Cuts and Jobs Act.
The last time quarterly growth was above 4% was in the third-quarter of 2014 when it hit 5.2%. On annual basis, economists need to go way back to 1991 when it reached 4.7% and even further, back to the 1980s, for stronger growth. In 1984 GDP hit 7.3% on an annual basis.