US Economy Grew By 2.9% In 2018 Miss Trump Target
Mar 01, 2019| The US federal government introduced a $1.5 trillion tax cut and expanded spending measures, but the US economy grew by 2.9% in 2018 and did not achieve the Trump administration's 3% target. Economists said that growth will only slow down after that.
According to data released by the US Department of Commerce on February 28, economic growth in the fourth quarter of last year was better than expected, driving GDP growth of 2.9% in 2018, almost reaching the target.
US President Trump has said that the economy is one of the biggest achievements of his term. In July last year, he announced that his government "completed the historic economic reversal." Trump’s promise to make the economy grow at an annual rate of 4% has never been favored by analysts.
In the fourth quarter of last year, the annual growth rate of GDP was 2.6%, and the annual growth rate in the third quarter was 3.4%. Economists interviewed by Reuters predicted that GDP grew by 2.3% in the fourth quarter of last year.
It is reported that economic growth in 2018 is the best since 2015, higher than 2.2% in 2017, and the longest expansion record since July 2018.