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Q3 GDP growth anemic

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Q3 GDP growth anemic

GDP growth in Q3 comes in at 1.5%.

US estimated real gross domestic product increased at an annual rate of 1.5% in the third quarter, according to the initial estimate issued by the Commerce Department today.  This follows Q2 GDP growth of 3.9%. 

Economists had expected growth to come in at 1.6%.

The sharply lower growth rate was largely due to a significant decline in the growth of inventories, as producers attempted to correct a surplus built up last quarter.  This effect, however, is considered by most economists to be temporary, and fourth quarter growth is expected to more vigorous.

The full report can be found here.

 

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