Brain357
Platinum Member
- Mar 30, 2013
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Those tax cuts are never going to pay for themselves.
US third-quarter economic growth revised down to 3.4%
The U.S. economy slowed in the third quarter a bit more than previously estimated, but the pace was likely strong enough to keep growth on track to hit the Trump administration's 3 percent target this year, even as momentum appears to have moderated further early in the fourth quarter.
Gross domestic product increased at a 3.4 percent annualized rate, the Commerce Department said on Friday in its third reading of third-quarter GDP growth. That was slightly down from the 3.5 percent pace estimated in October and well above the economy's growth potential, which economists estimate to be about 2 percent.
But the economy appears to be slowing in the fourth quarter amid a widening trade deficit, sluggish business spending on equipment and a weak housing market.
The slowdown in growth is expected to spill over into 2019 as the fiscal stimulus fades and a bitter trade war with China and strong dollar undercut manufacturing. Growth estimates for the fourth quarter are around a 2.9 percent pace.
US third-quarter economic growth revised down to 3.4%
The U.S. economy slowed in the third quarter a bit more than previously estimated, but the pace was likely strong enough to keep growth on track to hit the Trump administration's 3 percent target this year, even as momentum appears to have moderated further early in the fourth quarter.
Gross domestic product increased at a 3.4 percent annualized rate, the Commerce Department said on Friday in its third reading of third-quarter GDP growth. That was slightly down from the 3.5 percent pace estimated in October and well above the economy's growth potential, which economists estimate to be about 2 percent.
But the economy appears to be slowing in the fourth quarter amid a widening trade deficit, sluggish business spending on equipment and a weak housing market.
The slowdown in growth is expected to spill over into 2019 as the fiscal stimulus fades and a bitter trade war with China and strong dollar undercut manufacturing. Growth estimates for the fourth quarter are around a 2.9 percent pace.
