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DonViejo

(60,536 posts) Fri Jan 26, 2018, 09:43 AM Jan 2018

U.S. economic growth slowed in 2017's fourth quarter, missing Trump's targets

Source: The Washington Post

By Washington Post Staff January 26 at 8:34 AM

The U.S. gross domestic product, a broad measure of the economy, increased by 2.3 percent in 2017. GDP growth slowed in the year’s fourth quarter to an annualized rate of 2.6, breaking a two-quarter streak of growth of more than 3 percent.

The economy grew far faster in 2017 than during the year before, but the slower rate in the fourth quarter underscores the challenge the Trump administration will have in delivering the growth he has promised. Officials have focused on 3 percent GDP growth as proof his economic policies were working, and Trump has said it could go far beyond that target. Trump and Republicans are also counting on massive economic growth to prevent the more than $1.5 trillion in tax cuts Trump signed into law in December from adding to the deficit, though that would require growth far beyond the 3 percent target.

The U.S. economy grew 1.5 percent in 2016 and 2.9 percent in 2015. It has grown every year since 2009, when it shrank 2.8 percent.

This is a developing story. It will be updated.

Read more: https://www.washingtonpost.com/news/business/wp/2018/01/26/u-s-economic-growth-slowed-in-2017s-fourth-quarter-missing-trumps-targets

8 replies

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U.S. economic growth slowed in 2017's fourth quarter, missing Trump's targets (Original Post) DonViejo Jan 2018 OP

And Q4 NewJeffCT Jan 2018 #1

We're safe on this one, DUer's bucolic_frolic Jan 2018 #2

Trump will try to fire the economists who made these calculations. Kingofalldems Jan 2018 #3

Yup. GDP figures are always revised twice, about a month from now and 2 months from now progree Jan 2018 #5

Now, every Tuesday, I rec in the mail a shit load of newspaper sales Iliyah Jan 2018 #4

According to Consumer Reports, if the price is e.g. "4 for $4" then you can buy just one for progree Jan 2018 #6

Here's an excellent report from Bloomberg for those who have used up their WaPo free reads progree Jan 2018 #7

Trump will call this fake news, and his supporters will celebrate their growing prosperity DBoon Jan 2018 #8

NewJeffCT

(56,828 posts)

1. And Q4

Reply to DonViejo (Original post)

Fri Jan 26, 2018, 09:48 AM

Jan 2018

was really the first true measure of the Trump economy since previous resolutions carried it forward to the end of the fiscal year on 9/30/17

bucolic_frolic

(43,178 posts)

2. We're safe on this one, DUer's

Reply to DonViejo (Original post)

Fri Jan 26, 2018, 09:52 AM

Jan 2018

The only economic boost will be from the Presidential campaign when the airlines, hotels, restaurants, and limo services are in high gear. To prepare for that as well as old age poverty caused by Trump's policies, Americans are cutting their own spending and donating to their political candidates.

High gas prices are starting to work their miracle too. Once the recession era boost in capital for fracking played out and low prices closed wells and drillers on the margin, OPEC stepped into the detritus and cutback production to boost prices. It's 1977 all over again!

Kingofalldems

(38,458 posts)

3. Trump will try to fire the economists who made these calculations.

Reply to DonViejo (Original post)

Fri Jan 26, 2018, 09:53 AM

Jan 2018

progree

(10,909 posts)

5. Yup. GDP figures are always revised twice, about a month from now and 2 months from now

Reply to Kingofalldems (Reply #3)

Fri Jan 26, 2018, 10:09 AM

Jan 2018

It will be interesting to see how the revisions come out

Iliyah

(25,111 posts)

4. Now, every Tuesday, I rec in the mail a shit load of newspaper sales

Reply to DonViejo (Original post)

Fri Jan 26, 2018, 10:07 AM

Jan 2018

from all the local markets. But in most cases, you have to buy 4 or more for the sale. Even without the on going sale, there are sales in each market but, you have to have 4 or more for to get the sale. I believe in most part, you can buy just one item and still get the sale, but I think a lot of people don't know that.

Anywho, grocery prices are climbing.

progree

(10,909 posts)

6. According to Consumer Reports, if the price is e.g. "4 for $4" then you can buy just one for

Reply to Iliyah (Reply #4)

Fri Jan 26, 2018, 10:14 AM

Jan 2018

Last edited Fri Jan 26, 2018, 10:48 AM - Edit history (1)

a dollar, or two for $2 etc. Unless the tag explicitely says something different. Before I read that, I wasn't sure. Since then, I've been keeping track, and I've never been charged more on a per item basis by buying fewer than the four or whatever.

progree

(10,909 posts)

7. Here's an excellent report from Bloomberg for those who have used up their WaPo free reads

Reply to DonViejo (Original post)

Fri Jan 26, 2018, 11:09 AM

Jan 2018

or are concerned about doing so. It gives all the components (or lots and lots of them anyway) and how much they contributed to the GDP change

U.S. GDP Grows Below-Forecast 2.6% on Trade, Inventory Drags, Bloomberg, 1/26/18
https://finance.yahoo.com/news/u-gdp-grows-below-forecast-133002431.html

DBoon

(22,366 posts)

8. Trump will call this fake news, and his supporters will celebrate their growing prosperity

Reply to DonViejo (Original post)

Fri Jan 26, 2018, 12:39 PM

Jan 2018

It appeared that there had even been demonstrations to thank Big Brother for raising the chocolate ration to twenty grams a week. And only yesterday […] it had been announced that the ration was to be reduced to twenty grams a week. Was it possible that they could swallow that, after only twenty-four hours? Yes, they swallowed it.

- 1984, George Orwell

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