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I realize that it's the political pundits that are saying it, but they never seem to provide evidence that the economy is "booming". The dictionary definition of "booming" is having a period of great prosperity or rapid economic growth.

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A fairly standard measure to use would be Gross Domestic Product (GDP). Over the past 30 years, US GDP has been growing at approximately 2.5%.

According to trading economics

The US economy expanded an annualized 2.3 percent on quarter in the first quarter of 2018, below 2.9 percent in the previous period but beating market expectations of 2 percent

Using this measure, calling it a boom is a bit much.

Another way to cut the data is by comparing it to the ten-year trend of about 1.5%. Growing 80bps above trend looks a bit better.

So, to answer your question, depending on how you cut the data, it could be considered booming but I wouldn't.

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