Odisha News, Odisha Latest news, Odisha Daily - OrissaPOST
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
  • Home
  • Trending
  • State
  • Metro
  • National
  • International
  • Business
  • Feature
  • Entertainment
  • Sports
  • More..
    • Odisha Special
    • Editorial
    • Opinion
    • Careers
    • Sci-Tech
    • Timeout
    • Horoscope
    • Today’s Pic
  • Video
  • Epaper
  • News in Odia
No Result
View All Result
OrissaPOST - Odisha Latest news, English Daily -
No Result
View All Result

US economy grows at fastest rate in 3 years

Updated: March 2nd, 2019, 21:19 IST
in Business
0
Share on FacebookShare on TwitterShare on WhatsAppShare on Linkedin

Washington: The US’ gross domestic product (GDP) expanded by 2.9 per cent for all of 2018, its fastest rate in three years, although the economy showed further signs of deceleration in the fourth quarter, according to the Commerce Department.

The world’s largest economy also grew 2.9 per cent in 2015, while the last year in which the growth rate was 3 per cent or higher was 2005 (3.5 per cent), reports Efe news.

Also Read

Golden Visa

UAE dismisses media reports on Golden Visa rule revisions

1 day ago
Bombay Stock Exchange BSE

Stock markets close lower amid caution ahead of Q1 earnings; IT, oil shares drag

1 day ago

According to Department figures released, the GDP expanded by an annual rate of 2.6 per cent in the fourth quarter, beating economists’ forecasts for 1.9 per cent growth.

Consumer spending, which accounts for roughly two-thirds of the US economic activity, rose a higher-than-expected 2.8 per cent, although that figure was down from 3.5 per cent growth in the third quarter.

But the export sector continued to put a damper on the economy, with the US trade deficit climbing in the fourth quarter due to a 2.7 per cent rise in imports and a lower 1.6 increase in exports.

President Donald Trump has made trade-deficit reduction a key economic priority and has renegotiated the North American Free Trade Agreement (NAFTA) linking the US, Canada and Mexico, although the revamped treaty still must be ratified by Congress.

The US also remains in a complex trade battle with China that has involved tariffs on hundreds of Chinese products and threats to impose additional levies unless the Asian giant makes structural changes to reduce the bilateral trade deficit and end unfair trade practices.

Commerce Secretary Wilbur Ross hailed the 2018 GDP figure as a key achievement of the Trump administration.

“President Donald Trump has unleashed American growth at a pace the experts thought was not possible, approaching 3 per cent real GDP growth in 2018,” Ross said.

“An America First agenda that prioritizes American jobs, American workers, and American industry instead of burdensome regulation and unfair trade deals has revitalised the American economy. America is back.”

Although the US economy remained robust in the fourth quarter, GDP rose more slowly on an annual basis than in the second and third quarters – 4.2 per cent and 3.4 per cent, respectively.

Trump has pledged to keep the economy growing at a brisk rate of 3 per cent annually, a tall order considering that full-year growth did not hit that level once during the administration of his predecessor, Barack Obama.

The US Federal Reserve is forecasting growth of just 2.3 per cent in 2019, due in part to the fading effect of Trump’s tax cuts.

The President has criticised the Fed for raising interest rates four times in 2018 and said it was “incredible” that the central bank has indicated two more rate hikes will occur this year.

IANS

Tags: Trump's tax cutsUS economyUS exportsWall Street
Share3TweetSendShare
Suggest A Correction

Enter your email to get our daily news in your inbox.

 

OrissaPOST epaper Sunday POST OrissaPOST epaper

Click Here: Plastic Free Odisha

#MyPaperBagChallenge

Swarit Praharaj

December 12, 2019
#MyPaperBagChallenge

Adrita Bhattacharya

December 12, 2019
#MyPaperBagChallenge

Ipsita

December 12, 2019
#MyPaperBagChallenge

Tabish Maaz

December 12, 2019
#MyPaperBagChallenge

Priyasha Pradhan

December 12, 2019
#MyPaperBagChallenge

Archit Mohapatra

December 12, 2019
#MyPaperBagChallenge

Anup Mahapatra

December 12, 2019
#MyPaperBagChallenge

Saishree Satyarupa

December 12, 2019
#MyPaperBagChallenge

Jyotshna Mayee Pattnaik

December 12, 2019
#MyPaperBagChallenge

Chinmay Kumar Routray

December 12, 2019
#MyPaperBagChallenge

Diptiranjan Biswal

December 12, 2019
#MyPaperBagChallenge

Pragyan Priyambada

December 12, 2019
#MyPaperBagChallenge

Anasuya Sahoo

December 12, 2019
#MyPaperBagChallenge

Archana Parida

December 12, 2019
#MyPaperBagChallenge

Keshab Chandra Rout

December 12, 2019
#MyPaperBagChallenge

Adweeti Bhattacharya

December 12, 2019
?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
#MyPaperBagChallenge

Dibya Ranjan Das

December 12, 2019
#MyPaperBagChallenge

Smitarani Sahoo

December 12, 2019
#MyPaperBagChallenge

Tapaswini Mallick

December 12, 2019
#MyPaperBagChallenge

Rajashree Pravati Mohanty

December 12, 2019
#MyPaperBagChallenge

Adyasha Priyadarsani Sendha

December 12, 2019
#MyPaperBagChallenge

Praptimayee Biswal

December 12, 2019
#MyPaperBagChallenge

Amritansh Mishra

December 12, 2019
#MyPaperBagChallenge

Mandakini Dakua

December 12, 2019
#MyPaperBagChallenge

Manas Samanta

December 12, 2019
#MyPaperBagChallenge

Spinoj Pattnaik

December 12, 2019
#MyPaperBagChallenge

Matrumangal Jena

December 12, 2019
#MyPaperBagChallenge

Sarmistha Nayak

December 12, 2019
#MyPaperBagChallenge

Aman Kumar Barisal

December 12, 2019
#MyPaperBagChallenge

Akshaya Kumar Dash

December 12, 2019

Archives

Editorial

Toll Sucks Life

Nitin Gadkari
July 9, 2025

Union Road Transport and Highways Minister Nitin Gadkari took everyone by surprise when at a function in Nagpur, where the...

Read more

Bloodline

BJP-Shiv Sena
July 8, 2025

The coming together of the Thackeray cousins – Raj Thackeray, chief of the Maharashtra Navnirman Sena (MNS) and Shiv Sena...

Read more

Acknowledge Failure

Deputy Chief of Army Staff Lieutenant General Rahul R Singh
July 7, 2025

Deputy Chief of Army Staff Lieutenant General Rahul R Singh’s candid revelations about Operation Sindoor at a FICCI event ‘New...

Read more

Politics of Philosophy

AAKAR PATEL
July 6, 2025

The BJP’s constitution (Article 3) says, “Integral Humanism shall be the philosophy of the party.” The party’s membership form has...

Read more
  • Home
  • State
  • Metro
  • National
  • International
  • Business
  • Editorial
  • Opinion
  • Sports
  • About Us
  • Advertise
  • Contact Us
  • Jobs
Developed By Ratna Technology

© 2024 All rights Reserved by OrissaPOST

  • News in Odia
  • Orissa POST Epaper
  • Video
  • Home
  • Trending
  • Metro
  • State
  • Odisha Special
  • National
  • International
  • Sports
  • Business
  • Editorial
  • Entertainment
  • Horoscope
  • Careers
  • Feature
  • Today’s Pic
  • Opinion
  • Sci-Tech
  • About Us
  • Contact Us
  • Jobs

© 2024 All rights Reserved by OrissaPOST

    • News in Odia
    • Orissa POST Epaper
    • Video
    • Home
    • Trending
    • Metro
    • State
    • Odisha Special
    • National
    • International
    • Sports
    • Business
    • Editorial
    • Entertainment
    • Horoscope
    • Careers
    • Feature
    • Today’s Pic
    • Opinion
    • Sci-Tech
    • About Us
    • Contact Us
    • Jobs

    © 2024 All rights Reserved by OrissaPOST