Search This Blog

Translate

Search Tool




Nov 27, 2019

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

1-2 minutes - Source: CNBC




RT: Manufacturing General Motors GM assembly 190821
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.

No comments:

Post a Comment