The economy

What Trump said: “The United States economy is growing almost twice as fast today as when I took office, and we are considered far and away the hottest economy anywhere in the world.

“In just over two years since the election, we have launched an unprecedented economic boom — a boom that has rarely been seen before. There’s been nothing like it. ... An economic miracle is taking place in the United States.”

The facts: The president is vastly exaggerating what has been a mild improvement in growth and hiring. The economy is healthy but not nearly one of the best in US history.

The economy expanded at an annual rate of 3.8 per cent last spring and summer, a solid pace. But it was just the fastest in four years. In the late 1990s, growth topped 4 per cent for four straight years, a level it has not yet reached under Trump. And growth even reached 7.2 per cent in 1984.

Almost all independent economists expect slower growth this year as the effect of the Trump administration’s tax cuts fade, trade tensions and slower global growth hold back exports, and higher interest rates make it more expensive to borrow to buy cars and homes.