The American economy is slowing….
There is no doubt ….
Donald Trump knows it ….
Disregard his projections of a ‘Strong’ economy that he created…
That is just not reality…
The U.S. economy grew by 0.1 percentage points slower in the second quarter of 2019 than originally estimated, according to data released Thursday by the Commerce Department.
The department’s Bureau of Economic Analysis (BEA) revised U.S. gross domestic product (GDP) growth between the period from April to June to 2 percent, 0.1 percentage points less than the initial estimate 2.1 percent released in July.
While the U.S. economy has remained strong overall, business investment and manufacturing activity have seen sharp downturns amid the mounting costs of Trump’s trade battles with China and Europe. Economic retractions in the U.K. and Germany, slowing growth in China and an array of geopolitical flashpoints have also hurt the global economy.
The rising fears of a recession pose sharp political risks for Trump, who is counting on a strong economy to woo voters in swing states crucial to his 2020 re-election bid….
Note…
I’m on record here as doubting Trump admin’s rosey numbers in the past…