Gradual Growth

gradual-growthWhile 16Q3 annualized GDP growth was 2.9%, a two-year high, it was primarily because of a swing in inventories, which is unlikely to be repeated, and a one-off rise in soybean exports. Conversely, consumer spending grew by 2.1%, down from 4.3% in 16Q2. YTD, GDP growth is averaging 1.7%, just shy of its weak long-term growth potential but strong enough to keep the labor market improving. Rates rise in December.

Share This Post
Facebook Twitter Email

Speak Your Mind


This site uses Akismet to reduce spam. Learn how your comment data is processed.