Justin Fox, Columnist

It's Still a Slow-Growth U.S. Economy

All things considered, that might not be such a bad thing.

January 26, 2018 at 6:58 PM UTC

Justin Fox is a Bloomberg Opinion columnist covering business, economics and other topics involving charts. A former editorial director of the Harvard Business Review, he is author of “The Myth of the Rational Market.”

Not exactly.
Photographer: Robyn Beck/AFP/Getty Images

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Lots of things have changed since Donald Trump became president a year ago. But one thing apparently hasn't: The U.S. is still a slow-growth economy.

I wouldn't make too much of the lower-than-expected 2.6 percent annualized growth in real gross domestic product in the fourth quarter announced today by the Bureau of Economic Analysis -- that's an advance estimate that could change a lot with revisions. But the 2.5 percent estimated growth for full-year 2017, while it marks an acceleration from 2015 and 2016, will take a lot of revising to get annual GDP growth above the 3 percent barrier that it hasn't touched since 2005.