Kevin Hassett, chairman of the president’s Council of Economic Advisers, forecasts US GDP growth will be over 3% in 2019.
Hassett predicted 3.1 percent GDP growth for 2018. This would be correct if the fourth-quarter numbers come in as expected at about 2.5 percent.
US 2018 GDP should be $20.8 trillion.
The US ended the third quarter of 2018 with a GDP of $20.66 trillion.
The US ended 2017 with $19.83 trillion in GDP.
The US ended 2016 with $18.98 trillion in GDP.
If Hassett is right then the US would end 2019 with a GDP of $21.8 trillion.
China’s 2019 GDP
China ended 2018 with 90.03 trillion yuan in GDP. The end of 2018 exchange rate was 6.8755 yuan to 1 US dollar. This means China had a GDP of $13.09 trillion.
China ended 2017 with a GDP of $12.2 trillion.
China yuan has strengthened to 6.72. China’s GDP is now $13.4 trillion.
If China’s currency stays flat from current levels then China should end 2019 with a GDP of $14.5 trillion.
If China’s currency strengthened to 6.5 then China would end 2019 with a GDP of $15.0 trillion.
If China’s currency weakened to 7.0 then China would end 2019 with a GDP of $13.9 trillion.
Japan’s GDP Growth was 0.7% in 2018
Japan’s GDP for 2018 was 0.7% which was down from 1.9% in 2017. Japan is the third largest economy in the world.
SOURCES- IMF, National Bureau of Statistics, Google Finance, Bureau of Economic Analysis
Written By Brian Wang, Nextbigfuture.com