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U.S. economy grew more than expected in Q4 of 2017

Trump smirking
Photo: Chip Somodevilla / Getty

The U.S. GDP grew to 2.9% in the last quarter of 2017, 0.2 points more than expected and up from the 2.5% annual growth reported in the third quarter.

Why it matters: Holiday shopping sales were even higher than originally reported, especially due to jumps in transportation related spending, reports Business Insider. While the Trump administration has set a lofty goal of 3% GDP growth rate, the economy grew 2.3% overall in 2017, compared to 1.5% in 2016.