U.S. GDP rose 1.9% in Q3, better than the expected 1.6%.
U.S. gross domestic product — the broadest measure of the U.S. economy — grew faster than expected in the third quarter, but slowed slightly as business investment continued to decline.
Growth in gross private domestic investment, however, continued to decline in the three months ended Sept. 30 with a slip of 1.5%, still far better than the 6.3% drop in the second quarter. Business spending in particular weighed on the investment number as spending on structures continued to decline, with a 15.3% fall. The pace of spending on equipment sank 3.8%.
Imports, which are a subtraction in the calculation of GDP, increased during the third quarter. The most recent report on the U.S. trade deficit showed the imbalance at $54.9 billion at the end of August as imports outpaced exports in the last full month of summer. Consumption, which accounts for more than two-thirds of economic activity, continued to show resilience in the third quarter as one of the few bright spots for growth.
France Dernières Nouvelles, France Actualités
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