Skip to content
  • About Us
  • Privacy Policy
  • Contact Us
B2B Newz

B2B Newz

Daily Industry News & Updates

  • Top Stories
  • Business
  • Technology
  • Health
  • Science
  • Toggle search form
GDP At 2.6 Percent For Fourth Quarter But Less Than 3 Percent For The Year

GDP At 2.6 Percent For Fourth Quarter But Less Than 3 Percent For The Year

Posted on March 5, 2019 By Arleen Reyes

The Trump administration had a target of 3 percent annual growth for the year 2018.

The data released by the U.S. Commerce Department on Thursday, says that economy has fallen just less than the target of 3 percent growth for the year with 2.9 percent growth.

President Trump had spent around $1.5 trillion through tax cuts and undergone much government spending, but the growth rate has fallen just short of President Trump’s target.

During his campaign, Trump had said that his administration could bring the annual economic growth of the country to 4 percent. However, this has not been achievable.

Joel Naroff, the chief economist from Naroff Economic Advisors, Pennsylvania, says that the tax cut has already been factored in and it will be difficult for growth to accelerate higher from the current rate for the next year.

The GDP for the fourth quarter was seen at 2.6 percent.

Economists polling had forecast a 2.3 GDP growth for the fourth quarter, but it has fared better for the quarter at 2.6 percent.  In the third quarter, July – September, the pace had been at 3.4 percent.

The GDP has seen its strongest growth in 2018 after 2015. In 2017, the GDP was at 2.2 percent, but the growth performance for the year 2018 has been better than that of 2017 at 2.9 percent.

This is positive news for the U.S. which has seen better-than-expected performance for the fourth quarter. Business spending and consumer spending have been good, though the trade war with China has still not come to an end in the fourth quarter.

However, there is a slowness witnessed from the month of December with a drop in sales, exports, business spending, and home building. In January and February months, the manufacturing sector has further weakened.

The first quarter of 2019, will not be this good, says economist Paul Ashworth.

Top Stories

Post navigation

Previous Post: Research Reveals Whole Grains Reduce Liver Cancer Risk By 40%
Next Post: GE Sells Biopharma Unit To Inject Cash And Meet Its Debts

Related Posts

Venezuela Sees A Surge In Insect Inflicted Diseases Venezuela Sees A Surge In Insect Inflicted Diseases Top Stories
UK Registers Slowest Growth After 2012 UK Registers Slowest Growth After 2012 Top Stories
Details Of Obama As Well As Netflix Deal Revealed Details Of Obama As Well As Netflix Deal Revealed Top Stories
2 Superhot Columns Of X Ray Emitting Plasma Appear At The Galactic Center 2 Superhot Columns Of X Ray Emitting Plasma Appear At The Galactic Center Top Stories
San Francisco Plan Might Ban Government Employment Of Facial Recognition San Francisco Plan Might Ban Government Employment Of Facial Recognition Technology
Washington Legislators Mull Vaccine Bill As Over 50 Measles Cases Reported Washington Legislators Mull Vaccine Bill As Over 50 Measles Cases Reported Top Stories

Follow us

follow us

Recent Posts

  • Ultraviolet Overexposure can now be detected via the world’s smallest, battery-free, wearable device
  • Global Automotive Collision Repair Services Market Set to Register at CAGR 3.4% During 2020–2026
  • Concrete Block and Brick Manufacturing Market Growing Demand by Major Competitor and Strategies Analysis in 2029
  • Global Wind Turbine Operations and Maintenance Market Size Will Reach $21 Billion By 2028
  • Complementary and Alternative Medicine Market Outlook, Status, Trends 2022

Who We Are

Every day, people staying around, are looking for information to better understand their journey towards future. Recognizing the challenge of finding a trusted local source of news and information, B2B News is a trusted destination for news impacting with the precise fusion of trust, reliability, genuine information crafted in the inspiring stories and many other forms of information.

Get In Touch With us

B2B News Update
2717 Wilmarco Ave,
Baltimore, MD 21223, USA
Phone: +1 410-941-6063
Email: contact@b2bnewz.com

b2bnewsUpdate_logo

Copyright © 2022 B2B Newz.

Powered by PressBook Media WordPress theme