WASHINGTON, Dec 20 — US officials today confirmed their picture of moderate but steady economic growth in the third quarter of this year, while estimated investments by companies improved slightly. Amid low unemployment and steady job growth, the numbers should offer some comfort to President...
People walk on a sidewalk while the New York skyline is seen in the distance during the pass of a snowstorm in Weehawken, New Jersey, December 10, 2013. — Reuters pic
GDP growth in the July-September period advanced at an annual rate of 2.1 per cent, according to the Commerce Department’s third estimate, matching the estimate produced last month. While the public continues to spend, propping up growth, skittish companies, battered by Trump’s trade confrontation with China, are withholding investment.
This offset a steep cut to spending on food and beverages as well as declines for durable goods like autos.
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