US Nominal GDP grew
from $19.832 trillion in Q4 2017 to $20.891 trillion in Q4 2018. That is an increase of $1.060 trillion
reflecting 5.34% US GDP growth for 2018.
US Nominal GDP Q4 2017
was $19,831,829,000. US Nominal GDP Q4
2018 was $20,891,367,000. The US Nominal GDP increase in 2018 was
$1,059,538,000
ICYMI: The Wall Street Journal: “Thank You, Tax
Reform”, March 1, 2019
Thank You, Tax Reform - “The American economy is a tremendous engine of prosperity when politicians get out of the way, and for proof look no further than Thursday’s report on fourth-quarter growth,” The Wall Street Journal editorial board writes. “Tax reform and deregulation, take a bow.”
Thank You, Tax Reform - “The American economy is a tremendous engine of prosperity when politicians get out of the way, and for proof look no further than Thursday’s report on fourth-quarter growth,” The Wall Street Journal editorial board writes. “Tax reform and deregulation, take a bow.”
WSJ: Tax reform arrived in 2018, removing the
roadblock of the highest corporate tax rate in the world and inviting companies
to repatriate profits held abroad. Investment picked up almost exactly as chief
White House economist Kevin Hassett predicted it would. He predicted growth for
the year would rise by 3.1% in 2018 on a fourth-quarter to fourth-quarter
basis, and growth came in exactly at 3.1%.
The 3.1% reported by
the WSJ reflects GDP growth minus Inflation.
Yesterday, the White House
Council of Economic Advisers reported that America’s economy achieved 3 percent
growth for the first time in 13 years in 2018.
There are four components of GDP:
1.
Personal
Consumption Expenditures: All the goods and services produced for
household use. This is 68% of total GDP.
2.
Business Investment: Goods and services purchased by the private
sector.
3.
Government
Spending: Includes federal, state and local governments.
Norb Leahy, Dunwoody
GA Tea Party Leader
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