NEW: The U.S. economy grew at a healthy 3.1% rate in the first 3 months of this year, but signs are mounting that growth has slowed sharply in the current quarter amid slower global growth and a confidence-shaking trade battle between the U.S. and China
1 / 2Economy GDPFILE - In this June 19, 2019, file photo cargo containers are stacked on a ship at the Port of Los Angeles in Los Angeles. On Thursday, June 27, the Commerce Department issues the third and final estimate of how the U.S. economy performed in the January-March quarter. WASHINGTON — The U.S. economy grew at a healthy 3.
The 3.1% growth in the first quarter marked a rebound from a 2.2% growth rate in the fourth quarter of last year. But it was slower than a sizzling increase of 4.2% in the second quarter and a solid increase of 3.4% in the third quarter last year. For the entire year, GDP grew 3.9%, the best annual gain since 2015.
The Trump administration disputes these forecasts, believing that its economic policies will lift growth to levels of 3% or better over the next six years. Story continuesTrump is scheduled to meet Saturday with Chinese President Xi Jinping at a Group of 20 major nations summit in Japan to see if a way can be found to restart trade negotiations between the world's two biggest economies.
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