US economy posts slowest annual growth since 2016
But the country's longest expansion in history, now in its 11th year, remains on track and a downturn is unlikely
30 January 2020 - 19:30
Washington — The US economy missed the Trump administration’s 3% growth target for a second straight year, posting its slowest annual growth in three years in 2019 as the slowdown in business investment deepened amid trade uncertainty.
The lofty growth goal has remained elusive despite the White House and Republicans’ $1.5-trillion tax cut package, which President Donald Trump had predicted would lift growth persistently above that threshold. The economy grew 2.3% in 2019, the commerce department said on Thursday. That was the slowest since 2016 and followed the 2.9% growth notched in 2018...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.