WASHINGTON - U.S. economic growth slowed less than expected in the third quarter as a further contraction in business investment was offset by resilient consumer spending, further allaying financial market fears of a recession.
“An orderly economic slowdown is in progress,” said Sung Won Sohn, a business economics professor at Loyola Marymount University in Los Angeles. “If the business caution continues, there will be fewer jobs and slower income growth eventually adversely impacting consumer spending and economic growth.”
The U.S. central bank is expected to cut interest rates for the third time this year on Wednesday. The Fed cut rates in September after reducing borrowing costs in July for the first time since 2008. “The economy is still laboring against the headwinds of trade war uncertainty,” said Chris Rupkey, chief economist at MUFG in New York. “Even if growth miraculously soars 4.0% in the fourth quarter the economy won’t grow faster than 2.8% in 2019.”
A separate report on Wednesday showed private payrolls increased by 125,000 jobs in October after rising 93,000 in September. Job gains have been slowing this year because of slowing demand and worker shortages.
I love the type 2 diabetes ad that airs before the begining sequence of soda products being bottled.
And the banks are happy cause they are charging everything putting our citizens at a high risk!
its coming..
You people are morons it was better than expected and all the talking heads on Bloomberg and CNBC all said no recession coming based on these numbers 1.9% was the avg of Obamas 8 years GDP and Fools
Unemployment lowest?
If anti-Trump economists and the MSM will it it will happen. Fake news
Nobody bought the MSM’s Russia, Racism and Recession fear mongering in the first place. Nobody trusts you FakeNews.
So What Has Been The Impact Of POTUS TaxCut And DeficitSpending?
I hope these 'resilient' consumers aren't consuming more debt to our crack deficit enconomy propped up.
realDonaldTrump still winning 😂🤔
Consumers save the Economy and Retail laurenthomas. Lets home the party keeps going through 2020
The US economy will not go into a recession
Bulshit scare tactics... we will see more of this crap as we get close to election