Trump delivered an economic sugar high ... not the transformation he promised, says RexNutting
The nation’s gross domestic product grew at 2.9% during the year, according to the preliminary estimates by the Commerce Department released Thursday. That’s the best growth in three years, but it’s quite likely that this is as good as it will get.
That forecast still looks spot on. Most forecasters see the economy slipping to around 2.5% in 2019 and to 2% in the first years of the next decade. Most of the investment was front-loaded into the first half of the year, when business investment expanded at a 10% annual rate. In the second half of the year, however, investment growth slipped to just 4%, not much more than it grew in mid-2016 and less than half of the growth rate of the late 1990s.
Such investments can be the key to increasing the economy’s productivity and potential growth rate — if they continue.
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