The US economy grew less than previously thought last year, missing President Donald Trump’s target of 3%. Revised official figures show that GDP expanded by 2.5% during 2018.GDP grew at an annual rate of 2.1% between April and June, ahead of expectations but below 3.1% recorded in the first three months of the year.
Growth in the second quarter was better than the 1.8% expansion forecast, and was supported by stronger consumer spending and a jump in government spending. However, the pace fell short of the first quarter as both foreign trade and business investment shrank as the US continued its trade war with China.