#gdp

#gdp

Reality check: At the end of July Lutnick posted to X that "the Trump Economy has officially arrived," citing a strong GDP report. Since then, a combination of weak jobs data and hot inflation reports has painted a very different picture of an economy struggling to grow. Just Thursday, the Consumer Price Index showed inflation rising for a fourth consecutive month, while initial jobless claims were the highest in years.

The Economist's formula ranks countries based on various measures of wealth, concluding that there isn't a single richest nation, but several contenders including Switzerland, Singapore, and Norway.

On Saturday's Velshi from MSNBC, the host brought up the new Gross Domestic Product (GDP) numbers released by the Commerce Department which showed a large 3% growth in the second quarter under President Donald Trump.

In the G20 area, GDP growth saw a mixed performance in Q1 2025, with overall growth of 0.8%, as contractions were noted in Korea and the U.S.

California's economy produced $4.1 trillion in 2024, ranking it as the fourth largest globally, behind only the U.S., China, and Germany.

California's recent rise to the world's fourth-largest economy magnifies a paradox where prestigious GDP figures contrast starkly with the economic struggles of average residents.