US Economy Expected to Accelerate 2018, Slow in 2019

U.S. economic growth will probably accelerate this year before slowing in 2019 to well below the Trump administration's 3 percent target as a fiscal stimulus fades, congressional researchers projected on Monday.

In an updated economic outlook, the nonpartisan Congressional Budget Office (CBO) projected that inflation adjusted or real gross domestic product (GDP) would grow 3.1% this year, exceeding 2.2% growth in 2017 due to lower income taxes, increased government spending and private investment.

The government slashed corporate and personal income taxes in January in a $1.5 trillion package and the U.S. Congress passed a $1.3 trillion spending bill in March.

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