Second, in the fiscal year, overall US GDP growth fell just shy of three percent, by one-tenth of one percentage point.
Economists surveyed by Dow Jones expected a gain of 2.2 percent after a 3.4 percent rise in the third quarter.
The growth came amid a bevy of uncertainty and a time when the stock market briefly slid into bear market territory...Even with the weaker fourth quarter, economic growth was solid for the year, after GDP gains of 2.2 percent and 4.2 percent in the first and second quarters respectively...Employment remains strong, with payroll gains continuing in excess of 200,000 a month and wages rising at the fastest clip of the recovery.
Fourth quarter GDP exceeded experts' expectations, topped three percent over the last year, and is buttressed by sustained, low unemployment, and steadily rising wages.
Government spending slowed, trade was a minor drag and inventories gave GDP a small boost...The report shows how Republican-backed tax cuts may have continued to aid growth and help bring the full-year figure to 3.1 percent, just above President Donald Trump's 3 percent goal.
As that paragraph references, from Q4 to Q4, US GDP growth exceeded 3.1 percent, which is better than any yearlong period during the Obama administration.
The previous administration was the first to never hit three percent annual growth, since the beginning of modern records-keeping.
https://townhall.com/tipsheet/guybenson/2019/03/01/gdp-growth-n2542378
Economists surveyed by Dow Jones expected a gain of 2.2 percent after a 3.4 percent rise in the third quarter.
The growth came amid a bevy of uncertainty and a time when the stock market briefly slid into bear market territory...Even with the weaker fourth quarter, economic growth was solid for the year, after GDP gains of 2.2 percent and 4.2 percent in the first and second quarters respectively...Employment remains strong, with payroll gains continuing in excess of 200,000 a month and wages rising at the fastest clip of the recovery.
Fourth quarter GDP exceeded experts' expectations, topped three percent over the last year, and is buttressed by sustained, low unemployment, and steadily rising wages.
Government spending slowed, trade was a minor drag and inventories gave GDP a small boost...The report shows how Republican-backed tax cuts may have continued to aid growth and help bring the full-year figure to 3.1 percent, just above President Donald Trump's 3 percent goal.
As that paragraph references, from Q4 to Q4, US GDP growth exceeded 3.1 percent, which is better than any yearlong period during the Obama administration.
The previous administration was the first to never hit three percent annual growth, since the beginning of modern records-keeping.
https://townhall.com/tipsheet/guybenson/2019/03/01/gdp-growth-n2542378
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