I think Julian sounds right.
Most plain bearing designers who run calculation programmes to work out clearances and bore profile start their runs with an input figure around 0.00125"/inch on diameter ( i.e. somewhere between 0.001" and 0.0015" per inch or metric equivalent ).
On smaller diameters of less than 2" or so it would be down to 0.0010"/inch. The final clearances are calculated based on type of lubrication, bore area which takes in length,, lube pressure, temp, method and viscosity., brg operating temperature etc,etc. At 0.00125/inch most bearings will run but longevity may not be maximised. The conditions mentioned will determine. These figures are not cast in stone and more or even less may be the end result after runs, along with a change in bore profile.
At around 3/4" diameter, 0.002" seems rather excessive and I would have expected it to be less than half of this required as well.