US economic growth slows below Trump target

The US economy grew less than previously thought last year, missing President Donald Trump’s target of 3%.

Revised official figures shows that GDP expanded by 2.5% during 2018.

The figures also revealed that growth slowed during the second quarter as exports declined and companies invested less in their businesses.

GDP grew at an annual rate of 2.1% between April and June, ahead of expectations but below 3.1% recorded in the first three months of the year.

Growth in the second quarter was better than the 1.8% expansion forecast, and was supported by stronger consumer spending and a jump in government spending.

However, the pace fell short of the first quarter as both foreign trade and business investment shrank as the US continued its trade war with China.US economic growth slows below Trump target.

Q2 GDP Up 2.1% Not bad considering we have the very heavy weight of the Federal Reserve anchor wrapped around our neck. Almost no inflation. USA is set to Zoom!

— Donald J. Trump (@realDonaldTrump) July 26, 2019