- Mar 11, 2015
- 76,919
- 33,948
- 2,330
Yes, hundreds, maybe thousands, of the over 16,000 lies trump has told has been about the economy.
U.S. Growth at Slowest Since 2016, Complicating Trump’s Pitch
Boeing’s troubles, trade disruption and a tight job market held back growth last year, and a more subdued expansion appears to lie ahead.
The government’s latest economic scorecard arrived on Thursday, offering fresh evidence that the economy continues to grow, but at a frustratingly slow pace.
As the nation heads toward a presidential election, the question is whether voters will view steady but unspectacular growth as a sign that President Trump’s handling of the economy has succeeded or stumbled.
Gross domestic product, which measures the value of goods and services produced inside the United States, grew at a 2.1 percent annual rate between October and December, the same as the previous three months, according to preliminary data released by the Commerce Department. As for 2019 as a whole, the report shows that the economy turned in a weaker annual showing than it did in 2017 and 2018.
In previous decades, growth that consistently fell below 3 percent would have been seen as distressing. Now most economists — at least those outside the administration — see normal growth circling the 2 percent mark.
official jobless rate creeps along at half-century lows as the expansion heads toward its 11th anniversary. A hefty chunk of the population is also aging into retirement.
“Underneath what you’re seeing is slower domestic activity,” said Kathy Bostjancic, chief United States financial economist at Oxford Economics. “It’s just the natural state of things.”
Thursday’s report shows that trend is continuing.
“We’re seeing some loss of economic momentum as we exit 2019 and come into this year,” Ms. Bostjancic said.
U.S. Growth at Slowest Since 2016, Complicating Trump’s Pitch
US economy posts slowest annual growth since 2016
But the country's longest expansion in history, now in its 11th year, remains on track and a downturn is unlikely
The US economy missed the Trump administration’s 3% growth target for a second straight year, posting its slowest annual growth in three years in 2019 as the slowdown in business investment deepened amid trade uncertainty.
The lofty growth goal has remained elusive despite the White House and Republicans’ $1.5-trillion tax cut package, which President Donald Trump had predicted would lift growth persistently above that threshold. The economy grew 2.3% in 2019, the commerce department said on Thursday. That was the slowest since 2016 and followed the 2.9% growth notched in 2018.
While the department’s snapshot of GDP showed the economy maintaining a moderate pace of growth in the fourth quarter, that was in part because of a smaller import bill, which is unsustainable. Consumer spending slowed considerably last quarter and that could persist with wage growth appearing to have stalled.
But the longest expansion in history, now in its 11th year, remains on track and a downturn is unlikely as the Federal Reserve’s three interest rate cuts in 2019 kick in.
US economy posts slowest annual growth since 2016
The economic expansion started 7 years before trump took office. He has just been riding the wave.
U.S. factory activity growing at weakest pace since 2016
U.S. Growth at Slowest Since 2016, Complicating Trump’s Pitch
Boeing’s troubles, trade disruption and a tight job market held back growth last year, and a more subdued expansion appears to lie ahead.
The government’s latest economic scorecard arrived on Thursday, offering fresh evidence that the economy continues to grow, but at a frustratingly slow pace.
As the nation heads toward a presidential election, the question is whether voters will view steady but unspectacular growth as a sign that President Trump’s handling of the economy has succeeded or stumbled.
Gross domestic product, which measures the value of goods and services produced inside the United States, grew at a 2.1 percent annual rate between October and December, the same as the previous three months, according to preliminary data released by the Commerce Department. As for 2019 as a whole, the report shows that the economy turned in a weaker annual showing than it did in 2017 and 2018.
In previous decades, growth that consistently fell below 3 percent would have been seen as distressing. Now most economists — at least those outside the administration — see normal growth circling the 2 percent mark.
official jobless rate creeps along at half-century lows as the expansion heads toward its 11th anniversary. A hefty chunk of the population is also aging into retirement.
“Underneath what you’re seeing is slower domestic activity,” said Kathy Bostjancic, chief United States financial economist at Oxford Economics. “It’s just the natural state of things.”
Thursday’s report shows that trend is continuing.
“We’re seeing some loss of economic momentum as we exit 2019 and come into this year,” Ms. Bostjancic said.
U.S. Growth at Slowest Since 2016, Complicating Trump’s Pitch
US economy posts slowest annual growth since 2016
But the country's longest expansion in history, now in its 11th year, remains on track and a downturn is unlikely
The US economy missed the Trump administration’s 3% growth target for a second straight year, posting its slowest annual growth in three years in 2019 as the slowdown in business investment deepened amid trade uncertainty.
The lofty growth goal has remained elusive despite the White House and Republicans’ $1.5-trillion tax cut package, which President Donald Trump had predicted would lift growth persistently above that threshold. The economy grew 2.3% in 2019, the commerce department said on Thursday. That was the slowest since 2016 and followed the 2.9% growth notched in 2018.
While the department’s snapshot of GDP showed the economy maintaining a moderate pace of growth in the fourth quarter, that was in part because of a smaller import bill, which is unsustainable. Consumer spending slowed considerably last quarter and that could persist with wage growth appearing to have stalled.
But the longest expansion in history, now in its 11th year, remains on track and a downturn is unlikely as the Federal Reserve’s three interest rate cuts in 2019 kick in.
US economy posts slowest annual growth since 2016
The economic expansion started 7 years before trump took office. He has just been riding the wave.
U.S. factory activity growing at weakest pace since 2016
