The U.S economy saw a slowdown in the last quarter of 2018 compared to earlier in the year. That was higher than the expected forecasts which expected growth of around 2.4% but down from the 3.4% rate seen in mid-2018. Today's GDP figure means the economy grew 2.9% in 2018. The growth came in large part with the help of last year's $1.5 trillion tax cut. According to the U.S. Department of Commerce, fourth quarter growth was helped by consumer spending increased nonresidential fixed investment, exports, private inventory investment, and federal government spending.

Source: Forbes February 28, 2019 15:56 UTC