1-2 minutes - Source: CNBC

A
General Motors assembly worker moves a V6 engine, used in a variety of
GM cars, trucks and crossovers, from the final assembly line at the GM
Romulus Powertrain plant in Romulus,
Michigan, August 21, 2019.
Rebecca Cook | Reuters
Michigan, August 21, 2019.
Rebecca Cook | Reuters
The
U.S. economy grew at a moderate 2.1% rate over the summer, slightly
faster than first estimated. But many economists say they think growth
is slowing sharply in the current quarter.
The Commerce Department says the July-September growth rate in the gross domestic product, the economy’s total output of goods and services slightly exceeded its initial estimate of a 1.9% rate.
The economy had begun the year with a sizzling 3.1% GDP rate. Many economists have estimated that GDP growth is weakening in the current quarter to as slow as a sub-1% annual rate, largely because the U.S.-China trade war has led businesses to cut investment and inventories.
Still, the holiday shopping season is expected to be relatively healthy given solid job growth and consumer spending.
The Commerce Department says the July-September growth rate in the gross domestic product, the economy’s total output of goods and services slightly exceeded its initial estimate of a 1.9% rate.
The economy had begun the year with a sizzling 3.1% GDP rate. Many economists have estimated that GDP growth is weakening in the current quarter to as slow as a sub-1% annual rate, largely because the U.S.-China trade war has led businesses to cut investment and inventories.
Still, the holiday shopping season is expected to be relatively healthy given solid job growth and consumer spending.
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