The U.S. economy grew by 4.1 percent in the second quarter of 2018, marking the fastest economic expansion in nearly four years, according to a highly anticipated estimate released Friday by the Commerce Department.

President Trump touted the “amazing” growth during remarks at the White House shortly after the report’s release, cheering a shrinking trade deficit and claiming the country is on track to hit the highest annual growth rate in over 13 years.

“We’ve accomplished an economic turnaround of historic proportions,” Trump declared. “Once again, we are the economic envy of the entire world.”

The White House pointed to the gross domestic product (GDP) numbers, considered an official economic scorecard, as a strong indication that its tax cuts, commitment to deregulation and tough trade policies have paid off. The GDP broadly reflects the goods and services produced in the country.

“As the trade deals come in one by one, we’re going to go a lot higher than these numbers, and these are great numbers,” Trump said Friday.

The figures may reflect a temporary boost due to short-term factors, but lend a powerful midterm-season talking point to congressional Republicans hitting the campaign trail during the summer recess. Democrats for months have downplayed and criticized the GOP-authored tax cuts as favoring the wealthy, but Republicans maintain that Americans have broadly benefited.

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