US economic growth revised down to 2.2% rate in first quarter of 2018

The U.S. economy grew at a weaker 2.2% annual rate in the first three months of the year, as consumers and businesses slowed their spending. But given the economy’s recent performance, analysts are still looking for a solid rebound in the current quarter.

The Trump administration is projecting that its economic policies will keep growth at rates of 3% or better in coming years.