US economic growth revised down to 2.2% in fourth quarter

Source: The Hill | March 28, 2019 | Niv Elis

The U.S. economy grew by 2.2 percent in the fourth quarter of 2018, down from earlier estimates of 2.6 percent, according to federal data released Thursday.

Overall, annual gross domestic product (GDP) remained unchanged at 2.9 percent in the latest estimate from the Commerce Department’s Bureau of Economic Analysis (BEA).

That’s equivalent to the overall growth reached in 2015 and comes in just below the 3 percent annual growth target the Trump administration had set.

President Trump had promised that his economic policies, including tax cuts and deregulation, would lead the economy to grow at a sustained rate of 3 percent or more.

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