The economy expanded 2.9 percent in 2018, beating previous years but missing Trump's goal

Source: Washington Post


Democracy Dies in Darkness

Account and ProfileNewsletters & AlertsGift SubscriptionsContact UsHelp Desk

davisbgSign outAccount and ProfileNewsletters & AlertsGift SubscriptionsContact UsHelp Desk

Economy

The economy expanded 2.9 percent in 2018, beating previous years but missing Trump’s goal


U.S. President Donald Trump gestures as artificial snow falls during his address to supporters at a Make America Great Again rally in Biloxi, Mississippi, on November 26, 2018. (Kevin Lamarque/Reuters).

By Heather Long

February 28 at 8:38 AM

The U.S. economy expanded at a 2.9 percent pace last year, the Commerce Department reported Thursday, a strong rate but just shy of President Trump’s goal of 3 percent.

Last year’s growth marked the fastest gain for the economy since 2015. The economy received a big boost from the largest corporate tax cut in U.S. history that went into effect last year, as well as additional government spending on the military and domestic programs. But that stimulus is widely expected to wear off later this year, causing growth to slow somewhat in 2019.

Growth in the final quarter of last year was 2.6 percent, above forecasts but below the 3.4 percent pace in the third quarter and 4.2 percent pace in the second 



Read more: https://www.washingtonpost.com/business/2019/02/28/economy-expanded-percent-beating-previous-years-missing-trumps-goal/?utm_term=.817304b960f3