Mar 28, 2018

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

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.

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Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1:30 a.m. ET: 5,695,155 — Total deaths: 355,688 — Total recoveries — 2,351,177 — Map.
  2. U.S.: Total confirmed cases as of 1:30 a.m. ET: 1,699,933 — Total deaths: 100,442 — Total recoveries: 391,508 — Total tested: 15,192,481 — Map.
  3. Public health: CDC issues guidelines for reopening offices — Fauci says data is "really quite evident" against hydroxychloroquine.
  4. States: California hospitals strained by patients in Mexico — Texas Supreme Court blocks mail-in expansion to state voters.
  5. Business: MGM plans to reopen major Las Vegas resorts in June — African American business owners have seen less relief from PPP, Goldman Sachs says.
  6. Tech: AI will help in the pandemic — but it might not be in time for this one.
  7. World: EU proposes a massive pandemic rescue package.
  8. 1 🎶 thing: Local music venues get rocked by coronavirus.
  9. 🎧 Podcast: Trump vs. Twitter ... vs. Trump.
  10. What should I do? When you can be around others after contracting the coronavirus — Traveling, asthma, dishes, disinfectants and being contagious — Masks, lending books and self-isolating — Exercise, laundry, what counts as soap — Pets, moving and personal health — Answers about the virus from Axios experts — What to know about social distancing — How to minimize your risk.
  11. Other resources: CDC on how to avoid the virus, what to do if you get it, the right mask to wear.

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Updated 24 mins ago - Politics & Policy

Minneapolis unrest as hundreds protest death of George Floyd

Protesters and police clash during demonstration on Wednesday over the death of George Floyd in custody outside the Third Police Precinct. Photo: Kerem Yucel/AFP via Getty Images

Minneapolis police clashed for a second night with protesters demonstrating the death of George Floyd, an African American man who died in police custody.

The latest: Minnesota Gov. Tim Walz tweeted late Wednesday that the situation where the clashes were taking place was "extremely dangerous" as he urged people to leave the area. There were multiple news reports of police firing tear gas at protesters and of some people looting a Target store.

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Blue Cross Blue Shield insurers sue CVS, alleging drug pricing fraud

Photo: John Lamparski/SOPA Images/LightRocket via Getty Images

Six Blue Cross Blue Shield insurers have sued CVS Health, alleging the pharmacy chain overcharged them based on "artificially inflated prices" for generic drugs and concealed the true cash prices of those drugs.

The big picture: CVS has faced legal scrutiny over its cash discount programs since 2015, and this lawsuit adds big names to a mounting problem.

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