Marketwatch is reporting that the U.S. economy slowed ever so slightly in the fourth quarter. Although annual growth failed to break through 3% for the 11th straight year, it’s not as if there are huge hurdles for the new Trump administration to speed up a 7 ½-year-old expansion.
Gross domestic product, the official scorecard for the economy, expanded at a 1.9% annual clip from October to December, the Commerce Department said.
U.S. stock futures were pointing to a weaker start. However, the Dow Jones Industrial Average on Thursday finished at a record high and is up 25% over the last 52 weeks.
For the full year, the U.S. grew at 1.6%, down from a 2.6% clip in 2015. The last time the U.S. topped 3% growth — the historical average is 3.3% — was in 2005.
Most predict the economy will only grow around 2% in 2017. If Trump’s approach of tax-breaks for the rich and no regulations on corporations works, the payoff is unlikely to come until the end of the year or early 2018, they say.