Payload Logo

US GDP grew faster in 2013 and 2014 than it is now

By Heather Timmons
Published

Donald Trump Jr., the son of the US president, tweeted out an easily refutable claim over the weekend—that US quarterly gross domestic product growth was stronger now than it had been over the past eight years.

The figure Trump Jr. is referring to is quarterly GDP growth when compared to the quarter before. The latest figure was released by the Bureau of Economic Analysis on October 27, which did report that real GDP was up 3% in the third quarter, and 3.1% in the second.

However, there were two periods over the past eight years (and several over the last 17) when growth was stronger for two quarters in  row.

Quarterly GDP grew 3.1% and 4% in the third and fourth quarters of 2013. It grew 4.6% and 5.2% in the second and third quarters of 2014.

📬 Sign up for the Daily Brief

Our free, fast and fun briefing on the global economy, delivered every weekday morning.