Monday, November 18, 2019

US GDP rose a better-than-expected 1.9% in the third quarter as consumers continued to spend

US GDP was expected to slow down significantly in the third quarter. In the second quarter, the growth rate was at 2%, and for the third quarter it grew at an annualized rate of 1.9%. Many economists predicted that the growth rate was going to drop at a much larger rate than what it did. They expected third quarter growth to come down to about 1.6%. Economists are stating that the "better-than-expected" data was as a result of continued consumer spending as well as government expenditures. Many economists predict a recession and a dramatic slow down of the economy, the economy has continued to show the opposite. What are your opinions on the recession? Do you think it is bound to happen? Do you think it will be in the near future?

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