GDP data shows how Trump trade policies are holding back the economy

[jpak]

https://www.nbcnews.com/business/business-news/gdp-data-shows-how-trump-trade-policies-are-holding-back-n1035671

A quarterly drop in GDP from 3.1 percent to 2.1 percent illustrates the growing toll that President Donald Trump’s trade policies are taking on American businesses, economists say.

American consumers proved themselves willing and able to spend in the second quarter, with a 4.3 percent increase in consumption offsetting a 5.5 percent slump in business investment.

“In the second quarter of 2019, we caught the first whiff of damage to the economy caused by Mr. Trump’s trade war,” said RSM chief economist Joseph Brusuelas, characterizing the issue as “an uncertainty tax” that has left corporate America guessing about the potential impact of tariffs on input costs and exports, supply chain disruption and market access.

According to July’s Business Conditions Survey conducted by the National Association for Business Economics, fewer than half of the respondents expect real GDP growth to increase by more than 2 percent over the next year, compared to two-thirds who expressed that view in January.

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[JustAnotherGen]

1. Please put a disturbing image warning

On these posts you are doing!

BTW - we both know that s.o.b. IS laughing.

[Ohiogal]

2. So Much Winning!

[ProudMNDemocrat]

3. I hear a recession coming, it's coming around the bend

I ain't had a raise in pay,
since I don't know when.
I'm stuck here in Trumpyland,
And I can't break free.
I'm going broke so damn fast,
And that just worries me.


Recession Blues..