GDP Growth During Q4 Surpasses Expectations Despite Government Shutdown

American economic growth for the fourth quarter of 2018 was measured at 2.6% which widely surpassed expectations.

The Commerce Department released the GDP report Thursday which showed the growth just barely falling short of the White House’s goal of 3%.

The report suggests the Trump administrations tax cuts and increased government spending have played a role in the growth.

These numbers follow a 3.4% growth rate during the third quarter of 2018.

Consumer spending growth also continued at a rate of 2.8% following 3.5% growth during the third quarter.

Business spending also grew with a growth rate measured at 6.7% during the fourth quarter.

Experts claim the growth is notable considering the partial government shutdown which lasted for 35 days and began in December 2018.

Economic growth was measured at 2.9% overall during 2018.

Related Articles

Back to top button