President Donald Trump on Friday convened a Rose Garden celebration of economic data showing 4.1% growth in gross domestic product during the second quarter.

Here’s a look at what was said by Trump, White House Council of Economic Advisers Chairman Kevin Hassett and National Economic Council Director Larry Kudlow, and how truthful their comments were.

Trump: “We are on track to hit the highest annual average growth rate in over 13 years.”

POSSIBLY. The U.S. did grow 2.9% in 2015 — that looks beatable, but it’s by no means certain. The fastest GDP growth before that was 3.5%, achieved in 2005.

Trump: “I will say this right now, and I will say this strongly, as the trade deals come in one by one, we’re going to go a lot higher than these numbers.”

UNLIKELY. First, what seems likely is a slight tinkering of current trade deals — the North American Free Trade Agreement may be renegotiated by next month, and there’s been a bit of progress this week with the European Union. There’s a real risk of deteriorating activity due to the standoff with China, as tariffs have only just gone into effect. One economist, Bricklin Dwyer of BNP Paribas, called the GDP report a likely high-water mark.

Trump: “We are now on track to hit an average annual GDP of over 3%, and it could be substantially over 3%.”

TRUE. Take the 2.2% growth in the first quarter and the 4.1% rate of the second, and it averages out to 3.15%. Macroeconomic Advisers on Friday projected third-quarter GDP growth of 3.1%. Growth in 2018 north of 3% seems eminently achievable, as long as there’s no stumble in the fourth quarter.

Trump: “Each point, by the way, means $3 trillion and 10 million jobs. Think of that. Each point. You go up one point, it doesn't sound like much. It’s a lot.”

POSSIBLY. This must be a projection over 10 years — a typical window used to budget forecasts.

Trump: “Since I”ve been elected, we’ve added 400,000 new manufacturing jobs. Remember, that was the obsolete deal. I used to say, ‘Why is it obsolete?’ We have to make things. Manufacturing jobs are among our best jobs.”

PRETTY CLOSE. By the official numbers, if you’re measuring from November 2016, when President Obama was still in office, there are 374,000 new manufacturing jobs.

Hassett: “You said you would bring down the trade deficit, and you have. The $50 billion reduction in trade deficit proves if you stand up for America’s workers and let our allies know that deals that aren’t reciprocal are unacceptable, then you can make a lot of progress.”

WILDLY MISLEADING. Exports of agricultural products like soybeans shot higher because farmers were racing to beat the imposition of Chinese tariffs. They already fell in June. There’s absolutely no evidence the U.S. is now trading on better terms than previously.

Kudlow: “These tax cuts particularly on the business and investment side are going to be boosting wages, livelihoods and jobs for middle-American ordinary working folks. It’s starting to take effect. This is a boom that will be sustainable, frankly, as far as the eye can see.”

ROSY-EYED. Kudlow had been talking up business investment at the Rose Garden ceremony, but the gains seemed to come from spending on structures — that is, oil shafts and wells, a response to improved oil prices. Core capital-orders growth, while strong, has been slowing down from last year’s brisk pace. Also, real wages for workers aren’t rising, which should limit the upside to consumption.

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