The BEA revised its estimate of GDP growth in Q4 downward to 2.2 percent today. Team Trump has been using a Q4/Q4 measure of growth so that they can say GDP grew more than 3 percent last year,¹ but using the latest figures even the Q4/Q4 measure has dropped to below 3 percent. It’s now….
But it rounds up to 3 percent! MAGA!
¹Using the more normal measure, where you simply compare all of 2018 to all of 2017, GDP growth last year was 2.9 percent. Even after the reduced estimate for Q4 it still is—though just barely.