Economics
Trump’s 3% Growth Feat in 2018 Undone by Annual Data Revisions
- Update shows U.S. economy expanded 2.5% last year
- Revisions also boost savings rate, lower cellphone prices
This article is for subscribers only.
President Donald Trump failed to achieve his much-ballyhooed 3% target for economic growth in 2018 after all.
Updated government figures show that gross domestic product expanded 2.5% on a fourth-quarter-over-fourth-quarter basis last year. That compares with a previous estimate of 3% and an upwardly revised 2.8% in 2017, the first year of Trump’s presidency.