Below is a table of the top 20 quarters since Q1 2000. A 4.2% quarter would be the 9th best since Q1 2000.
As I've noted before, based on demographics, 2% is the new 4% (that is just simple arithmetic). I've also noted that a large government program (such as a war, or a tax cut) can give a short term boost to GDP. So Q2 should be fine, but not a game change.
| Top 20 GDP Quarters since 2000 Real GDP, Annualized Rate | ||||
|---|---|---|---|---|
| GDP | Year | Quarter | President | |
| 1 | 7.8% | 2000 | Q2 | Clinton |
| 2 | 6.9% | 2003 | Q3 | G.W.Bush |
| 3 | 5.2% | 2014 | Q3 | Obama |
| 4 | 4.9% | 2006 | Q1 | G.W.Bush |
| 5 | 4.8% | 2003 | Q4 | G.W.Bush |
| 6 | 4.6% | 2011 | Q4 | Obama |
| 7 | 4.6% | 2014 | Q2 | Obama |
| 8 | 4.3% | 2005 | Q1 | G.W.Bush |
| 9 | 4.0% | 2013 | Q4 | Obama |
| 10 | 3.9% | 2009 | Q4 | Obama |
| 11 | 3.9% | 2010 | Q2 | Obama |
| 12 | 3.8% | 2003 | Q2 | G.W.Bush |
| 13 | 3.7% | 2002 | Q1 | G.W.Bush |
| 14 | 3.7% | 2004 | Q3 | G.W.Bush |
| 15 | 3.5% | 2004 | Q4 | G.W.Bush |
| 16 | 3.4% | 2005 | Q3 | G.W.Bush |
| 17 | 3.2% | 2006 | Q4 | G.W.Bush |
| 18 | 3.2% | 2015 | Q1 | Obama |
| 19 | 3.2% | 2017 | Q3 | Trump |
| 20 | 3.1% | 2007 | Q2 | G.W.Bush |