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US posts economic growth of 2.1 percent


economy

US posts economic growth of 2.1 percent

The US economy showed rigourous consumer spending in the fourth quarter and slowed less than was previously reported.

GDP increased to an annualised 2.1 percent up from previous estimate of 1.9 percent.

The Commerce Department said that business activity moderated further at the beginning of the year.

The economy’s sluggish performance poses a challenge to President Donald Trump.

He vowed to boost annual economic growth to 4 percent by slashing taxes, increasing infrastructure spending and cutting regulations.

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