TRUMP’S ECONOMY: U.S. JUST SUFFERED LOWEST QUARTER OF ECONOMIC GROWTH IN THREE YEARS

The US economy started 2017 at a sluggish pace. It only grew at an annual pace of 0.7% in the first three months of the year, according to the Commerce Department’s report on gross domestic product, the broadest measure of economic activity.

It was the slowest quarter of growth since the first quarter of 2014.

Weak consumer spending was the main culprit for the anemic growth, which has become routine for the US economy since the Great Recession ended in 2009. Since then, the US has averaged about 2% annual growth.

President Trump has promised to end the slow-growth narrative. Initially, during his campaign, he pledged to create 4% growth, something not seen since the late 1990s.

Since coming to office, the Trump administration is aiming to get to 3% growth with tax reform and better trade deals, among other actions aimed at boosting the US economy.

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