Trump buoyant over record rise in GDP
President hails GDP growth as ‘biggest and best’ in US history as he addresses Florida rally
America’s gross domestic product grew at an annualised rate of 33.1 per cent in the three months to Sept 30, obliterating all previous records only days before the presidential election. Speaking at a rally at a football stadium in Tampa, Florida, Donald Trump hailed the “biggest and best” economic recovery in the history of the United States as he sought to convince voters that his policy of reopening the country from coronavirus lockdown had been vindicated.
DONALD TRUMP hailed the “biggest and best” economic recovery in the history of the United States as he sought to convince voters that his policy of reopening the country had been vindicated.
With only days until the election newly released figures showed America’s gross domestic product grew at an annualised rate of 33.1 per cent in the three months to September 30, obliterating all previous records.
Mr Trump said he was “so glad this great GDP number came out before November 3rd.”
He added: “Biggest and best in the history of our country, and not even close. Next year will be fantastic! However, Sleepy Joe Biden and his proposed record-setting tax increase would kill it all.”
It came as Mr Trump and Mr Biden both descended on the city of Tampa in Florida, a key state that polls have on a knife edge.
The president held a packed rally at an American Football stadium that is due to host the Super Bowl next year.
For the first time since June he was accompanied on the campaign trail by the first lady, Melania Trump.
The crowd chanted “We Love You” as Mrs Trump told them: “We are a country of hope. Not a country of fear or weakness. And we have a president who shows us that every single day. President Trump chooses to move this country forward.”
She said her husband was working so “children can get back into the classroom and businesses can open”.
Mr Trump hailed “explosive economic growth” and repeatedly called “33.1 per cent the “greatest number”.
He added: “We’re never going to lock down again. We’ve understood the disease. Joe Biden’s plan is to deliver punishing lockdowns. He’s going to lock you down.”
Mr Trump’s crowd, which numbered in the thousands, was not socially distanced and few were wearing masks.
The president and first lady kissed on stage before and after her speech.
Mr Biden was appearing at a drive-in event in Tampa with attendees remaining at a distance in their cars.
He said: ‘I’m not going to shut down the economy, I’m going to shut down the virus.”
He added: “The recovery is slowing if not stalling. And the recovery that is happening is helping those at the top, but leaving tens of millions of working families and small businesses behind.”
‘We are a country of hope. Not a country of fear or weakness’
Senior Republicans had hoped Mr Trump would make the economy his closing argument to voters.
He has spent recent days prioritising unproven accusations of corruption against Mr Biden and his son Hunter.
The president consistently performs well in polls about who voters trust on the economy, usually a key indicator in presidential elections.
The GDP figures showed the fastest growth since the US government started keeping records in 1947, double the previous record of 16.7 per cent set in 1950. It followed a record shrinkage rate of 31.4 per cent in the second quarter of this year, which plunged the US into its deepest recession since the Great Depression.
However, the recovery is far from complete and US output remains below its level in the fourth quarter of 2019.
More than 10 million of the 22 million jobs lost to the pandemic have not come back, and some may be permanently lost, particularly in the retail sector.
Economists expect there will be much lower growth figures in the forthcoming fourth quarter, and coronavirus cases are surging across the country.
Mr Trump has also been unable to agree a new pandemic relief package with Democrats i n Congress. Tim Murtaugh, Mr Trump’s campaign spokesman, said: “This is an absolute validation of President Trump’s policies. The president built the world’s best economy once and he’s rapidly doing it again.’
But Mr Biden said: “Even with today’s report, GDP still remains $6,000 per household below its pre-crisis level.”
In a setback for Republicans, the US Supreme Court decided not to block the battleground states of Pennsylvania and North Carolina from counting postal votes that arrive several days late. Democrats are more likely to vote by post.