The U.S. economy—as indicated by GDP—grew at an annual rate of 1.9% in the third quarter of 2019, which is slower than the downwardly revised rate of 2.0% reported for the second quarter of 2019, according to the 3Q 2019 Economic Outlook Update (EOU). Despite the dip in the third quarter, the 1.9% growth beat forecasts of 1.6% growth, according to a survey by Dow Jones. Here are a few other highlights from the report:
- The Leading Economic Index declined 0.1% in September, to 111.9 points, which follows a decline of 0.2% in August;
- Total government spending grew 2.0% in the third quarter, which is less than the rate in the prior quarter, when it grew 4.8%;
- The Consumer Confidence Index decreased 9.1 points in September, to 125.1, due to rising trade tensions with China; this was the largest one-month decline since December 2018;
- Job growth is slowing as the labor markets near full employment; and
- Small-business owners continue to feel confident about the economy and the future of their businesses; 58% say their revenues increased over the past 12 months, which is up 6.0 percentage points.
The 53-page 3Q 2019 Economic Outlook Update (EOU) contains expansive research from leading authoritative resources, which you can use in your valuation reports as long as you give proper attribution. The EOU is published monthly and quarterly.
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