U.S. Economy Roars Back, Grew 2.9% in Third Quarter
Source: Wall Street Journal
WASHINGTON—U.S. economic growth accelerated last quarter, easing fears of a near-term slowdown but doing little to change the trajectory of a long but weak expansion.
Gross domestic product, a broad measure of goods and services produced across the economy, expanded at an inflation- and seasonally adjusted 2.9% annual rate in the third quarter, the Commerce Department said Friday. That was stronger growth than the second quarter’s pace of 1.4%. Economists surveyed by The Wall Street Journal expected growth at a 2.5% pace for the July-to-September period.
Last quarter’s growth rate was the fastest recorded in two years.
The third-quarter acceleration largely reflected increased exports and a buildup of inventories, while consumer spending increased at a slower rate.
Read more: https://www.google.com/amp/www.wsj.com/amp/articles/u-s-economy-grew-2-9-in-third-quarter-1477657992?client=safari
Yet, Trump is running on a Kansas Brownback economics policy.
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