Economy Statement for the Treasury Borrowing Advisory Committee

IntroductionThe economy under the Trump Administration is strong, supported by robust business investment in equipment and intellectual property products, as well as solid household consumption growth. Business fixed investment (BFI) rose by over 10% at an annual rate over the first three quarters of 2026, driven by investments in new equipment and intellectual property. Since December 2025, the private sector has added 634,000 net new jobs across a broadening range of industries. The unemployment rate and initial unemployment claims remain low, and real weekly wages have grown since the President’s inauguration.Real Gross Domestic Product (GDP)The economy in the third quarter of 2026 (3Q26) grew at the fastest pace in the last four quarters.