The U.S. terseness grew at a moderate 2.1% rate over the summer, slightly faster than first estimated. But many economists say they over growth is slowing sharply in the current quarter.
The Commerce Department says the July-September growth rate in the gross residential product, the economy’s total output of goods and services slightly exceeded its initial estimate of a 1.9% rate.
The conservation had begun the year with a sizzling 3.1% GDP rate. Many economists have estimated that GDP growth is give in in the current quarter to as slow as a sub-1% annual rate, largely because the U.S.-China trade war has led businesses to cut investment and inventories.
Suppress, the holiday shopping season is expected to be relatively healthy given solid job growth and consumer spending.