YIKES – AT 11:52 A.M. ET:  Okay, we kind of expected it, but to see the GNP growth figure at 4.1 percent, as announced this morning, was gratifying.  The president rightly boasted about it, and CNN went into full panic mode, trying to discredit the importance of the announcement.  When you have no credibility left, what does it matter what you say?  From Daily Caller: 

The U.S. economy grew at the strongest rate in roughly four years in the second quarter of 2018, matching economists’ high growth expectations heading into Friday’s announcement.

Gross domestic product — the total value of all final goods and services in the U.S. economy — grew at a 4.1 percent rate in the second quarter, propelled by an increase in consumer spending, exports, federal and local government spending and business investment, according to the Bureau of Economic Analysis.

In reference to 2017 second quarter growth numbers, this year’s look stellar. Economic output grew just 2.8 percent in the second quarter of 2017.

Economists expected second quarter figures to hit levels as high as 5 percent, which would have been the highest second quarter growth rate since 2014. Preliminary numbers generally pegged growth close to Friday’s actual figures. 

President Donald Trump promised the “best financial numbers on the planet” leading into Friday’s rollout, adding that it was great to have the U.S. “winning again.”

COMMENT:  No matter what he does, or accomplishes, the president will be given little credit for it by the American media.  But the results are remarkable, and will stimulate a critical building block in any economy – psychological optimism.  When people have confidence in the economy, they are more likely to spend or invest.

The good news had been anticipated, but that didn't change Mr. Trump's poll numbers leading up to the announcement.  Rasmussen today still has him at 46% approval.

July 27,  2018