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2017 ended with underwhelming 2.6 percent growth
The U.S. economy grew at a 2.6 percent annual rate in the fourth quarter of 2017, the government announced Friday. The mark was slightly disappointing, after 3.2 percent growth in the third quarter yielded high expectations.
Overall, the U.S. GDP grew by 2.3 percent in 2017, slowed by strong consumer spending in the fourth quarter that provoked a surge of foreign imports, Reuters reports. Speaking in Davos, Switzerland, on Friday, President Trump raved that America is "roaring back," while the International Monetary Fund's chief economist, Maurice Obstfeld, told The New York Times: "Political leaders and policymakers must stay mindful that the current economic momentum reflects a confluence of factors that is unlikely to last for long."
Trump has previously promised to spur a booming 4 percent annual growth rate.