US Economic Growth Report: US economy grew at a moderate 2.1% annual rate in the third quarter

1-2 minutes - Source: CNBC

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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

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.