Resilient consumers help US economy expand GDP by 1.9%
Year-on-year GDP increased 2% during the quarter, the weakest pace of Trump’s presidency, putting his goal of 3% annual growth further out of reach
30 October 2019 - 17:18
Washington — A resilient American consumer helped the US economy expand more than forecast in the third quarter, assuaging concerns for now of a more pervasive slowdown tied to weakening business investment and faltering export markets.
GDP increased at a 1.9% annualised rate, according to US commerce department data on Wednesday that topped forecasts in a Bloomberg survey that anticipated 1.6% growth. Still, that is down from 2% in the second quarter and is the lowest since the end of 2018...
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