With Economy Off To Slow Start in 2018, 3% Growth Looks Iffy

Investing.com - Those looking for a Trump bump to the economy may have to be patient.Although many economists expect the $1.5 trillion tax plan to take growth above 3.00% at some point in the future, the economy is off to a slow start in 2018.Several key economic indicators actually fell in January.Durable goods orders were down 3.7%.Home sales--existing and new-- fell 3.2% and 7.8%, respectively.Retail sales declined 0.3%.And industrial production slipped 0.1%.No wonder then that the Atlanta Federal Reserve just lowered its first-quarter growth forecast from 3.2% to 2.6%, which happens to match the consensus forecast of private economists.The White House, however, recently said the economy was already on a 3.00% growth path, with three-quarters of it a result of the administration's policies. The last time the economy grew by 3% or more in a year was 2005."