Exactly When Did the US Economy Hit Bottom?
There is no doubt that the exact low for our economy was April 2020.
Since April, and thanks to the series of measures Donald Trump has taken to rebuild the hamstrung economy he inherited from an off-track Obama team, the US economy has had an exciting rebound.
Let me show you.
Four macro-economic series give you all you need to know.
- Manufacturers’ New Orders for Consumer Goods and Materials bottomed in April 2020 at 109,714,000,000. It has since rallied all the way back to 137,131,000,000, just a hair below the pre-bust peak reading of 137,809,000,000.
- Construction Contracts bottomed one month later in May at 41,860,000. CCs have since rallied back to 59,430,000.
- New Private Housing Units Started also bottomed in April at 1,066,000. The powerful post-crash rally has now produced a new major cycle peak reading at 1,545,000.
- Residential Private Fixed Investment also bottomed in April and at 571,270,000,000. The strong post-crash rally has produced a new major cycle peak at 641,783,000,000.
Donald Trump delivered Americans the greatest job gains in history and a resilient, foundationally strong economy in the bargain. Trump needs to continue his work. And as has already been proven, all Americans will be the beneficiary. This can happen!