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 years 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
NewJeffCT
(56,829 posts)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
(43,287 posts)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
(38,476 posts)progree
(10,918 posts)It will be interesting to see how the revisions come out
Iliyah
(25,111 posts)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
(10,918 posts)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
(10,918 posts)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
(22,397 posts)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