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Larry Kudlow to Newsmax TV: Friday's GDP Growth Numbers May Reach 3%

(Newsmax TV's "Newsmax Now"/YouTube)

By    |   Thursday, 25 April 2019 06:47 PM

GDP growth for the first quarter of 2019 might reach 3%, a significant increase from the previous quarter, National Economic Council director Larry Kudlow told Newsmax TV.

In an exclusive interview at the Eisenhower Executive Office Building with Newsmax CEO Chris Ruddy, Kudlow explained why he thinks the economy grew just 2.2% in the final quarter of 2018 — and why he thinks it will increase.

"We're gonna get a better first quarter, by the way. Estimates started flat six weeks ago, now the numbers have come in very good. Jobs and low unemployment claims, better retail sales, better business spending. We may be very close to 3%," Kudlow said.

Kudlow, who worked in the Reagan White House and later started a television career, said 3% is the Trump administration's target figure.

In 2018, the economy grew by quarter at 2.2%, 4.2%, 3.4%, and 2.2%. Kudlow said several factors contributed to the fourth quarter drop.

"Some of it was the government shutdown. Some of it was, I think, monetary policy tightening. Some of it was a very weak overseas economy," he said.

"We are the only economy growing around the world right now. We are the hottest game in town, money's flowing here. But I think that was interrupted, to some extent, by the rate hikes and the threat of more to come. I think the overseas slowdown hurt a little bit, There are other worries that were out there. But I will emphasize that now the numbers are coming back, and that's very good."

Kudlow added the government has paid for the corporate tax cut, which was part of the 2017 tax cuts package signed into law, and the overall tax cut is roughly two-thirds paid off.

"So, I'm just not concerned," he said.

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National Economic Council director Larry Kudlow told Newsmax TV that GDP growth for the first quarter of 2019 might reach 3%, a significant increase from the previous quarter.
larry kudlow, gdp, growth, economy, government shutdown
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2019-47-25
Thursday, 25 April 2019 06:47 PM
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