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Third Quarter GDP Revised Upward, but Worries for Fourth Quarter Remain
November 27, 2019
The U.S. economy grew more over the summer than previously thought. The Commerce Department revised the GDP numbers for the third quarter, showing that the economy grew at a 2.1 percent increase instead of the 1.9 previously reported.
Despite the upward revision, economists still worry about the momentum of the American Economy. Predictions for the fourth quarter generally fall below 2 percent, with some economists even suggest that economic growth may fall below one percent. With businesses cutting investments and inventory, the economy is becoming increasingly reliant on consumer spending. With the job market remaining strong, holiday shopping is expected to be strong, offering a potential boost to Q4.
