US economy grew 4.1 percent in 2nd quarter, marking largest spike in years

President Trump touted the new economic numbers during a news conference on Friday.
2:26 | 07/27/18

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Transcript for US economy grew 4.1 percent in 2nd quarter, marking largest spike in years
Moments ago the numbers for America's economic growth. Or GDP we're just released. And I am thrilled to announce that in the second quarter of this year. The United States economy grew at the amazing rate of four point 1%. We're on track to hit the highest annual average growth rate in over thirteen years. And I will say this right now analyses strongly. As the trade deals come in one by one. We're going to go a lot higher than these numbers and he's a great numbers. If economic growth continues at this pace the United States economy will double in size more than. Ten years pastor. That it would have under either President Bush or President Obama. Perhaps one of the biggest wins in the report. And it is indeed a big one is that. The trade deficit very dear to my heart because we've been ripped off by the world. Has dropped by more than fifty billion dollars. 52 billion to be exact strapped by more than fifty vacant at the trade deficit has dropped. By more than fifty billion dollars. These numbers are very very sustainable. This is in one time shot. I happen to think we're gonna do extraordinarily well. In our next report next quarter. It's gonna be. Outstanding. And welcome to strong because that it's not quite as good deal not let me forget. We'll make it our. Country great again. Were respected again. All over the world. Our military will soon be stronger than it's ever been by far. That it itself will produce. Thousands and thousands of jobs nobody makes equipment it's like we did nobody. Whether it's planes or missiles. Or any form of military equipment would make the best in the world by far. What make it it possible for our allies to buy that equipment quickly where they don't have to wait the two year approvals and war. Would do a great. And I'm very honored to see that four point one number perhaps some even more honored to see that deficit. Shrink the trade deficit shrinks so much.

This transcript has been automatically generated and may not be 100% accurate.

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