B[Trump said the U.S. economy may grow at a rate of 20%. The U.S. Bureau of Economic Analysis estimates that real GDP growth in the second quarter was only 1.5% on an annualized basis.] On September 1, U.S. President Trump said on Monday that the U.S. economy could grow at a rate of as high as 20%. At the same time, he believed that even such rapid economic growth should not prompt the Federal Reserve to raise interest rates. “Our GDP growth could be 14%, 15%, 16%, even 20%,” Trump said at an event in the Oval Office of the White House aimed at unveiling an agreement to reduce prescription drug prices. "Economic growth does not mean it will cause inflation."
However, economic growth approaching the levels proposed by Trump is almost unprecedented in modern American economic history. According to data from the U.S. Bureau of Economic Analysis (BEA) dating back to 1947, there has only been one quarter in history in which U.S. real GDP has reached or exceeded 20% on an annualized basis. That was in the third quarter of 2020, when the U.S. economy quickly restarted as the COVID-19 lockdown measures were lifted, and real GDP annualized growth reached 34.9%. In the previous quarter, the U.S. economy shrank at an annual rate of 28%. The current economic growth rate in the United States is far from Trump’s goal. According to the latest estimates from the U.S. Bureau of Economic Analysis, real GDP growth will be 1.5% in the second quarter of 2026, down from 2.1% in the first quarter. A[Anhui: The operating income of industrial enterprises above designated size in the first seven months increased by 17.6% year-on-year] August 30th, according to the Anhui Bureau of Statistics, from January to July, industrial enterprises above designated size in Anhui Province achieved operating income of 3,725.73 billion yuan, a year-on-year increase of 17.6%; operating costs incurred were 3,227.32 billion yuan, an increase of 16.2%; and total profits were 195.91 billion yuan, an increase of 63.5%. From January to July, the cost per 100 yuan of operating income of industrial enterprises above designated size was 86.62 yuan, and the expense per 100 yuan of operating income was 7.31 yuan. At the end of July, the accounts receivable of industrial enterprises above designated size were 1,635.85 billion yuan, a year-on-year increase of 25.6%; the inventory of finished products was 310.74 billion yuan, an increase of 19.6%. At the end of July, the operating income of industrial enterprises above designated size per 100 yuan of assets was 80.2 yuan, and the per capita operating income was 2.089 million yuan.
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