Economy grows at slower pace but still reflects strength

[DonViejo]

Source: The Hill



BY VICKI NEEDHAM - 10/26/18 09:02 AM EDT

The U.S. economy grew at a 3.5 percent annual clip in the third quarter, slower than the spring but still a good sign of the nation's economic health.

Growth was slower than the robust 4.2 percent in the April to June quarter but the economy continues to show strength in the final assessment before the midterm elections in less than two weeks, the Commerce Department reported on Friday.

The two quarters are the best back-to-back showing since 2014.

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Read more: https://thehill.com/policy/finance/413282-economy-grows-at-slower-pace-but-still-reflects-strength

[BumRushDaShow]

1. Interesting that the RW "The Hill" didn't spin it like WaPo did

when WaPo first sent out their spin-fest of an original headline -

U.S. economy posts strong 3.5 percent annual growth in third quarter, beating expectations and offering a potential boost to GOP

The U.S. economy produced its best back-to-back quarters in four years, according to the Commerce Department’s gross domestic product report.

The report provides a lift for Republicans just 11 days before congressional elections and as GOP candidates have touted their handling of the economy. It comes as President Trump this week again attacked Federal Reserve Chairman Jerome H. Powell for raising interest rates, calling the nation’s central bank the “biggest risk” to continued growth.

Then they had to rewrite it (although quote RW loon org AEI) to be this -

U.S. economy grew at annual rate of 3.5 percent in 2018’s third quarter

By David J. Lynch
October 26 at 8:32 AM

The U.S. economy slowed in the third quarter to a still-strong 3.5 percent annual growth rate, the Commerce Department said in its final assessment of economic health before the November congressional elections.

Growth dipped from the second quarter’s 4.2 percent rate, but the economy still posted its best back-to-back quarters in four years.

The Commerce report comes as President Trump this week again attacked Federal Reserve Chairman Jerome Powell for raising interest rates, calling the nation’s central bank the “biggest risk” to continued growth.

“The economy is still growing significantly above its potential, which is pretty remarkable,” said economist Michael Strain of the American Enterprise Institute, citing an expansion that has not experienced a recession since 2009.

[Doodley]

2. Government sponsored increase in growth via tax cuts for the wealthiest and increased debt.

[beachbum bob]

3. stagnant wage growth is not "robust" economy