The U.S. economy grew at 3.1% in the first quarter of this year as the economic explosion under the Trump administration continues to prosper.
The Commerce Department released the data on Thursday which indicated a growth spike nearly 1% higher from last quarter.
The findings were measured only 0.1% less than the Bureau of Economic Analysis predicted, and 0.1% higher than Wall Street initially predicted.
Experts cite a spike in net exports, GDP, and consumer spending for the increase.
The data indicated net exports spiked 4.8% while imports dropped 2.5%.
— Bloomberg (@business) May 30, 2019
Estimates suggest GDP grew by 3.1% and consumer spending spiked by 1.3%, which is 0.1% higher than experts’ projections.
This comes as markets around the world face uncertainty over the stalled trade talks between the U.S. and China.
The president has previously accused the Chinese of attempting the renegotiate the deal as it reportedly neared completion.
— Larry Kudlow (@larry_kudlow) March 31, 2018
In response to the continuing trade war, President Trump spiked tariffs 15% targeting $200 billion worth of Chinese products earlier this month.
Negotiations broke down shortly after as the president continues to push for a fair deal which would benefit the U.S. and various American industries.
President Trump is expected to meet with Chinese President Xi Jinping in Japan in June at the G-20 Summit.