Final reading of the first quarter GDP of 2018

The US economy slowed more than expected in the first quarter, the weakest performance of consumer spending for nearly five years, but growth seems to have picked up since with a robust job market and cuts in sales. 39; taxes.

Gross domestic product grew 2.0% annually between January and March, the Commerce Department announced in its third estimate of GDP in the first quarter, instead of the 2.2% pace announced the month latest.

increased 2.9% in the fourth quarter. The drop in growth in the first quarter reflects a decline in consumer spending and a lower inventory buildup than the government had estimated last month.

A $ 1.5 trillion tax cut, which came into effect in January, stimulates economic growth. Economists, however, warn against the fact that "America's first" policies of the administration, which intensified fears of commercial wars, discredited the economy. economy of the economy. The United States is engaged in titillating commercial tariffs with its major trading partners, including China, Canada, Mexico and the European Union, which badysts say could disrupt supply chains and undermine business investment. the fiscal stimulus.