Oxford Economics: US economy to shrink $1 trillion under Trump

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Ursula
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Joined: Sun Sep 04, 2016 11:02 pm

Oxford Economics: US economy to shrink $1 trillion under Trump

Post by Ursula » Sun Sep 25, 2016 3:37 pm

If Donald Trump wins the 2016 presidential election, the US economy will shrink $1 trillion smaller five years later than expected, says economics research firm Oxford Economics. The firm is specialized in global forecasting and quantitative analysis. According to its website, Oxford Economics "offers the world's most advanced economic forecasting portfolio".
Oxford Economics wrote: Should Mr. Trump prove more successful in achieving adoption of his policies, the consequences could be far-reaching – knocking 5 percent off the level of US GDP relative to baseline and undermining the anticipated recovery in global growth.

From 2017, the country’s economy is expected to grow at a constant rate of around 2 percent, reaching $18.5 trillion in 2021.

With Trump in the White House, however, growth will fall near zero in 2019, and the overall GDP will be reduced to $17.5 trillion, due to his policies, including mass deportation of immigrants and asylum seekers as well as his approach to tax cuts and trade measures.

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