Moneymoney

Wed Oct 30, 2019, 09:10 AM

U.S. economy grows at modest 1.9% rate in third quarter

The U.S. economy slowed to a modest growth rate of 1.9% in the summer as consumer spending downshifted and businesses continued to trim their investments in response to trade war uncertainty and a weakening global economy.

The Commerce Department reported that the July-September performance for the gross domestic product, the economy’s total output of goods and services, was just below the 2% rate of growth in the second quarter.

https://www.politico.com/news/2019/10/30/us-economy-growth-third-quarter-061640

Economists had been forecasting a much bigger slowdown with fears GDP could slump to 1.4% or less given a number of headwinds.

Still, the GDP gain was far below the 3%-plus increases that President Donald Trump has set as a benchmark to demonstrate that his policies are succeeding in lifting the economy above the modest 2.2% growth of the Obama years.

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Reply U.S. economy grows at modest 1.9% rate in third quarter (Original post)
uncledad Oct 30 OP
nolidad Oct 30 #1
uncledad Oct 30 #2
quad489 Oct 30 #3

Response to uncledad (Original post)

Wed Oct 30, 2019, 09:17 AM

1. Given the GDP of the rest of the world

That is a great number!

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Response to nolidad (Reply #1)

Wed Oct 30, 2019, 10:12 AM

2. It could be better, but in comparison, it's a great number.

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Response to uncledad (Original post)

Wed Oct 30, 2019, 10:47 AM

3. Yep, just proves one can only do so much while the Congress is actively working against you.........

"Still, the GDP gain was far below the 3%-plus increases that President Donald Trump has set as a benchmark to demonstrate that his policies are succeeding in lifting the economy above the modest 2.2% growth of the Obama years."

...maybe one day Congress will start working for the American people again.

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