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  • Los Angeles Times

    Despite tax cuts, U.S. economic growth slowed in first quarter of the year

    by Jim Puzzanghera, Los Angeles Times Apr 27, 2018 3 minutes

    WASHINGTON - The nation's economic growth slowed in the first three months of the year despite the large tax cuts kicking in, raising new questions about whether the U.S. can reach the levels President Donald Trump has promised.

    Total economic output, also known as gross domestic product, expanded at a solid 2.3 percent annual pace in the first quarter, the Commerce Department said Friday.

    The figure, which was higher than analysts had expected, is down from 2.9 percent in the fourth quarter of last year.

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