Q3 U.S. GDP growth of 3.5 percent may be as good as it gets
Washington, DC, The US economy did well in the third quarter, growing at an annualized pace of 3.5 per cent, but boom times are still as distant as ever. This is what the entrails of the report reveal.
(1) The best may already be over . . .
After a dismal first quarter, when terrible weather led to a fall in gross domestic product, 2014 has delivered a long-awaited pick-up in US growth. The third quarter’s 3.5 per cent annualized pace follows on from 4.6 per cent in the second.
But the good times may already be over. Macroeconomic Advisers, a consulting firm, now puts its tracking estimate for GDP growth in the fourth quarter at 2.4 per cent, a figure that has come down steadily. Weaker durable goods orders point to less investment. Slow growth around the world equals less trade.
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