WASHINGTON - U.S. economic growth picked up slightly in the third quarter, rather than slowing as initially reported, and there are signs the downturn in business investment could be drawing to a close.
The reports were released in the wake of data showing an acceleration in housing market activity early in the fourth quarter and a sharp decline in the goods trade deficit, as well as a solid pace of inventory accumulation by retailers. When measured from the income side, the economy grew at a 2.4% rate in the last quarter. Gross domestic income increased at a rate of 0.9% in the second quarter. The income side of the growth ledger accelerated despite a drop in profits.
The average of GDP and GDI, also referred to as gross domestic output and considered a better measure of economic activity, increased at a 2.3% rate in the July-September period, quickening from a 1.4% growth pace in the second quarter. A second report from the Commerce Department on Wednesday showed orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, surged 1.2% last month, the largest gain since January, after falling 0.5% in September. These so-called core capital goods orders were boosted by increased demand for machinery, computers and electronic products and fabricated metals.
Y vendrán cosas peores Bolivarianas de terror progresista del Narco Estado
After several months of intense propaganda about a coming recession, the economic data is good and Democrat hopes of winning the White House nest year are diminishing.
Meanwhile, Going out of Business sales all over the place - from Furniture to Clothing. Just keep inflating that balloon, the POP will be even more devastating.
2% growth and business investment down for 3rd quarter🔥🤬
Best & most stable economy in the world. USA
It’s the holidays people are being hired temporarily!
Economy is booming. Media is upset the recession the were pushing for never happened.
Malaysia Malaysia Latest News, Malaysia Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BusinessInsider - 🏆 729. / 51 Read more »