The U.S. economy outperformed in the first six months of 2018 thanks to a combination of tax cuts and softer regulations. These efforts helped push GDP growth north of 3% and unemployment toward 50-year lows. While growth slowed in the latter half of the year, job creation and wages remained elevated. Employers added 312,000 workers in December as average hourly earnings rose 3.2% annually, the fastest since 2009.