US Economic Growth Rate at Three Year Low
Will slow and steady win the race? First quarter reporting from the White House reveals that the economy has expanded at an annual rate of 0.7 percent – the lowest since the first quarter of 2014. Investment officer Nancy Curtin said the low is ”in line with the seasonal trend,” and results from Trump’s as yet unseen fiscal stimulus won’t be observed until next year. Economists say the slow down is due to flaccid consumer spending, but that a “rebound” is likely. Trump’s campaign promises included increasing growth to 4 percent, so there’s a long way to go if his administration is to deliver.