The 3rd-quarter GDP report reflects a slowing but a healthy economy
in the third quarter. The GDP—a monetary measure of the market value of all the goods and services produced in a specific time period and a gauge of the U.S. economy—indicated steady, but not spectacular growth. This will scant hints of an imminent recession. The third-quarter GDP report reflects a slowing , but healthy economy.
However, there was a noticeable deceleration. The third quarter was the first time since the last quarter of 2018 in which the U.S. economy only grew at a rate slower than 2%. Nevertheless, the Commerce Department’s report was more positive than the experts predicted in a survey conducted by the. The better-than-expected number still fell short of the 3% growth that President Donald Trump has targeted.
Steve Rick, chief economist at CUNA Mutual Group—which has $20.6 billion in assets under management—stated,"[The] GDP report is a welcome bright spot in the midst of all of the uncertainty we’ve been wading through lately and tells us that the U.S. economy still has some punches left." Chad Moutray, chief economist at the National Association of Manufacturers, said, “For manufacturers, the biggest challenges remain finding skilled labor and trade uncertainties, which make it difficult to hire and expand business operations.”
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