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Economy grows at slower pace but still reflects strength
Source: The Hill
BY VICKI NEEDHAM - 10/26/18 09:02 AM EDT
The U.S. economy grew at a 3.5 percent annual clip in the third quarter, slower than the spring but still a good sign of the nation's economic health.
Growth was slower than the robust 4.2 percent in the April to June quarter but the economy continues to show strength in the final assessment before the midterm elections in less than two weeks, the Commerce Department reported on Friday.
The two quarters are the best back-to-back showing since 2014.
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Read more: https://thehill.com/policy/finance/413282-economy-grows-at-slower-pace-but-still-reflects-strength
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Economy grows at slower pace but still reflects strength (Original Post)
DonViejo
Oct 2018
OP
BumRushDaShow
(129,096 posts)1. Interesting that the RW "The Hill" didn't spin it like WaPo did
when WaPo first sent out their spin-fest of an original headline -
U.S. economy posts strong 3.5 percent annual growth in third quarter, beating expectations and offering a potential boost to GOP
The U.S. economy produced its best back-to-back quarters in four years, according to the Commerce Departments gross domestic product report.
The report provides a lift for Republicans just 11 days before congressional elections and as GOP candidates have touted their handling of the economy. It comes as President Trump this week again attacked Federal Reserve Chairman Jerome H. Powell for raising interest rates, calling the nations central bank the biggest risk to continued growth.
The U.S. economy produced its best back-to-back quarters in four years, according to the Commerce Departments gross domestic product report.
The report provides a lift for Republicans just 11 days before congressional elections and as GOP candidates have touted their handling of the economy. It comes as President Trump this week again attacked Federal Reserve Chairman Jerome H. Powell for raising interest rates, calling the nations central bank the biggest risk to continued growth.
Then they had to rewrite it (although quote RW loon org AEI) to be this -
U.S. economy grew at annual rate of 3.5 percent in 2018s third quarter
By David J. Lynch
October 26 at 8:32 AM
The U.S. economy slowed in the third quarter to a still-strong 3.5 percent annual growth rate, the Commerce Department said in its final assessment of economic health before the November congressional elections.
Growth dipped from the second quarters 4.2 percent rate, but the economy still posted its best back-to-back quarters in four years.
The Commerce report comes as President Trump this week again attacked Federal Reserve Chairman Jerome Powell for raising interest rates, calling the nations central bank the biggest risk to continued growth.
The economy is still growing significantly above its potential, which is pretty remarkable, said economist Michael Strain of the American Enterprise Institute, citing an expansion that has not experienced a recession since 2009.
By David J. Lynch
October 26 at 8:32 AM
The U.S. economy slowed in the third quarter to a still-strong 3.5 percent annual growth rate, the Commerce Department said in its final assessment of economic health before the November congressional elections.
Growth dipped from the second quarters 4.2 percent rate, but the economy still posted its best back-to-back quarters in four years.
The Commerce report comes as President Trump this week again attacked Federal Reserve Chairman Jerome Powell for raising interest rates, calling the nations central bank the biggest risk to continued growth.
The economy is still growing significantly above its potential, which is pretty remarkable, said economist Michael Strain of the American Enterprise Institute, citing an expansion that has not experienced a recession since 2009.
Doodley
(9,094 posts)2. Government sponsored increase in growth via tax cuts for the wealthiest and increased debt.
beachbum bob
(10,437 posts)3. stagnant wage growth is not "robust" economy