SME Times is powered by   
Search News
Just in:   • Adani Group to invest Rs 57,575 crore in Odisha  • 'Dollar Distancing' finally happening? Time for India to pitch Rupee as credible alternative: SBI Ecowrap  • 49% Indian startups now from tier 2, 3 cities: Jitendra Singh  • 'India ranks 3rd in global startup ecosystem & number of unicorns'  • LinkedIn lays off entire global events marketing team: Report 
Last updated: 22 Feb, 2018  

Trump.9.Thmb.jpg Trump's first economic report predicts stronger economy

Trump.9.jpg
   Top Stories
» 49% Indian startups now from tier 2, 3 cities: Jitendra Singh
» 'India ranks 3rd in global startup ecosystem & number of unicorns'
» Tripura exported over 9K tonnes of pineapples in 2 years
» CPI inflation eases to 6.71% in July, IIP falls to 12.3%
» Rupee depreciates 12 paise to close at 79.64 against US dollar
IANS | 22 Feb, 2018
The US economic growth rate will increase to 3.1 per cent in 2018 and remain above 3 per cent through 2020, according to President Donald Trump's first official economic report to Congress.

"The Trump Administration is the first since that of President Ronald Reagan to see positive economic growth exceed its first-year forecast," said the Economic Report of the President, released on Wednesday, written by the Council of Economic advisers, in a detailed analysis of economic policies by Trump's staff, Xinhua reported.

"If fully implemented, President Trump's economic agenda would lead to 3 per cent annual GDP growth on average throughout the next decade," the report added.

"The headline in the economic report is that we're not in a new normal of low growth, but we're just in a normal period again where we can go back to growing about 3 per cent that we always expected," said Kevin Hassett, Chairman of Council of Economic Advisers.

Economists, however, believe that a growth rate of 3 per cent is not sustainable for the US economy. According to the Federal Reserve, the long-term growth rate of the US economy is around 1.8 per cent, due to aging population and slower growth of productivity.

The real gross domestic product (GDP) expanded at an annual rate of 2.3 per cent in 2017, well below the 3 per cent Trump promised, according to data released by the Commerce Department.

 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 13 Aug, 2022
  Daily Poll
PM Modi's recent US visit to redefine India-US bilateral relations
 Yes
 No
 Can't say
  Commented Stories
» GIC Re's revenue from obligatory cession threatened(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter