U.S. economic growth declined at the end of last year for the second straight quarter, denying President Trump the 3% annual increase he had promised the Republican tax cuts would spur.
The nation’s economic growth declined at the end of last year for the second straight quarter, denying President Trump the 3% annual increase he had promised the Republican tax cuts would spur.The economy grew 2.9% in 2018, the Commerce Department said Thursday in a report that was delayed several weeks because of the partial shutdown of the federal government. It was the first of three estimates and could be revised up or down in the coming weeks.
Despite the new data, which included a 2.6% annual growth rate for the fourth quarter, Commerce Secretary Wilbur Ross continued to make that argument Thursday. They did not round up the 2.9% growth in 2015 under Obama to 3%. And they specifically targeted calendar-year growth because Obama presided over three 12-month periods in which U.S. growth exceeded 3%. The first of those periods was October 2009 through September 2010. Then there were two overlapping periods: April 2014 through March 2015 and July 2014 through June 2015.
“There’s no evidence that the [Trump administration] policies are lifting underlying growth in the economy” beyond their long-term trends, Zandi said.in the first three months of this year, which could lower the 2019 forecasts.survey
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Fed says U.S. economy ended 2018 with solid but weakening growthThe U.S. economy maintained 'solid' growth through the second half of ...
Weiterlesen »
The economy expanded 2.9 percent in 2018, beating previous years but missing Trump’s goalThe economy expanded at a 2.9 percent pace in 2018, beating previous years but missing Trump's goal
Weiterlesen »
Fed says US economy ended 2018 with solid but weakening growthThe U.S. economy maintained 'solid' growth through the second half of 2018, likely expanding 'just under' 3 percent for the year, though consumer and business spending had begun to weaken, the Federal Reserve said on Friday.
Weiterlesen »
Flattening U.S. yield curve in late 2018 'flashing red' on economy: Fed's WilliamsA flattening U.S. yield curve in December, which was close to being inverted, wa...
Weiterlesen »
'Unhinged madman': Former U.S. budget director says Trump is 'conducting 4 wars on the economy'A former U.S. government official believes President Donald Trump is severely hurting the U.S. economy in various ways.
Weiterlesen »
Donald Trump claims every world leader congratulates him for U.S. having the 'hottest economy on Earth'President Trump has been making the same claim at rallies and events across the nation for at least the past year.
Weiterlesen »
Trump got a strong economy in 2018, but first quarter of this year looks very weakA surprise jump in business spending boosted fourth quarter growth to 2.6 percent, but economists say the first quarter could grow at half that pace due to the government shutdown and a sluggish consumer.
Weiterlesen »
Trump's biggest economic goal once looked like a slam dunk — but now it's looking like it may fall just shortFed Chairman Jerome Powell said GDP is projected to be 'a little less than 3%' in 2018, leaving the US just shy of President Trump's promised growth.
Weiterlesen »