U.S. GDP to Grow Significantly, says Econ Advisor Kudlow

U.S. economic advisor Larry Kudlow anticipates that the GDP for the second quarter will have a maximum raise. Kudlow was unable to give the specific figures, however, he contradicted the expected range of 4 to 4.5 percent. Moreover, the head of National Economic Council is the most recent official to discuss his viewpoint on economic data prior its publication, which infrequently happens in the White House.

Earlier in June, American President Donald Trump posted on Twitter about his anticipation for the release of the May nonfarm payrolls report, an hour prior the publication. Based on the Reuters survey, economists predicts that the quarterly GDP will reach 4.1 percent for the initial reading. In case that the growth rate will gain 5.2 percent, this can be regarded as the best single-quarter projection since Q3 of 2014 which is also the most significant increase during the presidency of Barack Obama.

Hence, the forecasts continue to show different numbers, as CNBC Rapid Update survey of top economists foresees 4.2 percent expansion and Barclays speculates for a 5.2 percent increase. On the other hand, the New York Fed assumes for a 2.7 percent low end while the Atlanta Fed stands at 3.8 percent.