The growth rate of America's gross domestic product might rise by more than 200 percent by 2018 under President-elect Donald Trump's economic plan, according to a new analysis.
CNBC cites a Deutsche Bank forecast that claims Trump's economy-boosting agenda could drive 2.4 percent growth in 2017 and 3.6 percent in 2018. Under President Barack Obama, the economy grew by an average of 1.6 percent during his eight years in office.
CNBC noted Obama is the first president since Herbert Hoover who has not overseen the economy grow by at least 3 percent in one year of their administrations.
The Deutsche Bank report predicts the world economy will grow as well, increasing its 2017 GDP forecast from 3 percent to 3.4 percent.
Trump's economic plan puts an emphasis on broad-based growth, according to CNBC, which will help improve America's economy almost immediately.
"This policy will be successful in moving the U.S. economy away from low-growth secular stagnation towards significantly more buoyant performance," David Folkerts-Landau, the chief economist at Deutsche Bank, said in the report. "We would not be taken by surprise by a doubling of the growth rate of real GDP in the U.S. over the next two years, nor by a further significant move up of equity valuations and a material further appreciation of the dollar."
Several companies have committed to creating U.S. jobs and/or investing in America during Trump's administration, including SoftBank, Toyota, Fiat, and Sprint.
Trump met with Alibaba founder Jack Ma Monday about the Chinese e-commerce giant investing in the U.S. to the tune of creating 1 million jobs over the next five years.
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