Expect 'Very Good' U.S. GDP Data in the 'Very Near Future' - POTUS

Sarah Benali  

Thursday June 15, 2017 14:11

(Kitco News) - Mirroring the Federal Reserve’s recent optimism, President Donald Trump seems to be bullish on the U.S. economic growth story, thanks to his administration’s efforts at reducing regulation.

At an executive order signing Thursday, President Donald Trump suggested the U.S. will see “very good” GDP numbers in the “very near future.”

"We have regulations on top of regulations and in history nobody has gotten rid of so many regulations as the Trump administration," he said publicly at the signing.

"And that's one of the reasons that you see the jobs and the companies all kicking in so strongly. I think some very good numbers are going to be announced, by the way, in the very near future as to GDP."

President Trump made the statements ahead of signing an executive order to increase spending on apprenticeships and job-training programs.

However, his comments on GDP have caused some confusion as to if he was speaking in general terms or specifically about the next scheduled GDP data release date on June 29. On that day, markets will receive the third first quarter GDP reading.

Back in late April, the second GDP reading came out much stronger than expected and showed growth of 1.2% for the first three months of the year, compared to 0.7% growth reported in the first estimate.