US economy slowed less than expected in the fourth quarter amid solid consumer and business spending, leaving 2018 growth just shy of the Trump admin.'s 3% annual target.
The economy slowed less than expected in the fourth quarter amid solid consumer and business spending, leaving 2018 growth just shy of the Trump administration's 3 percent annual target.
Gross domestic product increased at a 2.6 percent annualized rate in the fourth quarter after expanding at a 3.4 percent pace in the July-September period. The economy grew 2.9 percent in 2018, the best performance since 2015 and better than the 2.2 percent logged in 2017. It also said the fourth-quarter GDP growth estimate was"based on source data that are incomplete or subject to further revision by the source agency."
The slowdown comes at time when the economy's outlook is also being clouded by signs of cooling global demand and uncertainty over Britain's departure from the European Union.
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