United States economy has shown a slower growth rate in the last quarter of 2019 as per a rate of 2.1%, closing the year out in which there was a deceleration of the GDP to a level which is the slowest pace in three years in a continuing dragging of the investment of business.
There was an increase of GDP which matched the quarter 3 and had met the expectations of the economy which had been surveyed. In the complete year, the economy had been growing by 2.3% which is below the level of 2.9% increase from the year 2018 and a gain of 2.4% in the year 2017, for the first year of the presidency of Donald Trump as per the initial estimate which had been released on this Thursday by the Department of Commerce.
This move in the year 2019 was a lot lower than the projections of White House after the tax bill in the year 2017 which cut the rates of individual and corporate. The administration has made a statement that is going to stimulate a leading to the increase of GDP of a minimum of 3% however that has not happened till now.
There was a continuous gain in the spending of consumers which had helped propel this economy in the last three months of the year, though the increasing rate had come in at a level of 1.8%, which is well below the level of 3.2% pace in this third quarter. Still the consumption expenditure which is personal had added by 1.2% points for a rise in this quarter. The consumer had accounted for a level of 68% of the entire economy of United States.