What They Are Saying: Historic GDP Numbers Highlight Bidenomics in Action
October 26, 2023
Today, the U.S. Bureau of Economic Analysis announced that real gross domestic product (GDP) increased at an annual rate of 4.9 percent in the third quarter of 2023, reflecting the strength of Bidenomics as it spurs remarkable economic growth nationwide.
Here’s what they’re saying about Bidenomics delivering historic results …
@EwallWice: “So US GDP soared to 4.9% in Q3!
Up from 2.1% in Q2
Not too great for the whole ‘the economy is bad’ narrative…”
@JStein_WaPo: “New report from Treasury touts US economic boom https://home.treasury.gov/news/featured-stories/the-us-economy-in-global-context”
@byHeatherLong: “JUST IN: US GDP soared to a blockbuster 4.9% in Q3. That’s the highest since the end of 2021 and a big uptick from 2.1% in Q2.
Strong consumer spending and gov’t spending drove the growth.
Bottom line: No recession in sight.”
@RepGwenMoore: “Under President Biden’s leadership, we’re witnessing unprecedented economic recovery and growth. Job creation is soaring, businesses are thriving, and opportunities are expanding for everyone. #Bidenomics”
@JustinWolfers: “Blockbuster GDP report shows real GDP grew at an annual rate of 4.9% in Q3, blowing even optimistic expectations out of the water.
This economy is going gangbusters, and it’s time for the doomers to apologize for being consistently wrong for two years.”
@MarkZandi: “What recession? Today’s GDP report shows the economy’s extraordinary resilience. Consumers are doing their part, businesses are hanging tough, and the infrastructure legislation and CHIPS Act are providing a tailwind. The boomy gain overstates the strength as the inventory accumulation won’t continue, and growth will soon throttle back, but this report should allay recession worries.”
@RepDarrenSoto: “Another BIG economic report today as the U.S. economy remains strong!
GDP grew at a staggering rate of 4.9% last quarter, surpassing expectations. At the same time, unemployment numbers remain near historic lows at 3.8% + inflation continues to slow.
- Politico: “Why a stellar economic report may spell peak ‘Bidenomics’”
- Business Insider: “The US economy is growing at the fastest pace in 2 years ”
- ABC News: “US economy grew at blistering pace in 3rd quarter”
- CNBC: “U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected”
- Fortune: “U.S. economy glows red hot with a 4.9% GDP reading for the third quarter”
- Yahoo Finance: “GDP: US economy grows at fastest pace in nearly two years”
- Washington Post: “U.S. economy grows at blockbuster pace in third quarter”
- New York Times: “U.S. Economic Growth Accelerated in the Third Quarter”
- Axios: “U.S. economy sizzles in Q3, defying slowdown fears”
- MarketWatch: “GDP jumps 4.9% as the U.S. economy speeds up”
- Bloomberg: “US Economy Grew at a 4.9% Pace Last Quarter, Fastest Since 2021”
- BBC News: “US economy grows at fastest pace in nearly two years”
- Financial Times: “US economic growth accelerated to 4.9% in third quarter”
- US News & World Report: “Economy Surged in Third Quarter, Growing at Annual Rate of 4.9%”
- The Guardian: “US economy grows at fastest pace in nearly two years in third quarter of 2023”
CNBC World: “I think the macro is important. When we get down granularly with the data, I think the FED is about to get a gift. We just set GDP today at 4.9%.”
Bloomberg: “One of the strongest pillars of the economy has been the US consumer, you can see that today in the GDP data that has been revealed. The US consumer continues, continues to confound expectations. Economists continue to underestimate what is happening here.”
FOX Business: “Looks like we’ve got GDP at 4.9%. That is the first read on third quarter GDP. That is a surprise on the upside. We had been expecting, consensus was 4.3%. You can see that’s a big positive number … Look at this 4.9% is well over twice second quarter GDP which was 2.1%, first quarter GDP 2%. So you can see some really strong expansion here.”