This summer, the US economy was hot, and the GDP increased by 3.5% in the third quarter, corporate earnings and led to a high & # 39; six years.
The US government announced today that the growth rate of gross domestic product (GDP) in the third quarter is still 3.5%, uncorrected.
Analysts surveyed by MarketWatch estimated that GDP will rise & # 39; to 3.6% in the third quarter.
The corporate profits have risen to new highs. In the third quarter, the profit & # 39; before corporate tax increased by 3.4%. S & # 39; is more remarkable is that the profit for the third quarter increased by & # 39; 10.3% compared to the same period last year, which was the fastest increase since 2012.
Although the GDP growth rate in the third quarter was not revised, the detailed data changed by & # 39; significantly.
The consumer spending – the main engine of the economy – was revised b & # 39; 4% to 3.6%.
The expenditure of state and local government has been revised by adding & # 39; 3.2% for & # 39; 2%.
However, strengthen corporate investment, and investment in equipment increased from flat to increase & # 39; 3.5%. Spending on construction structure – such as office buildings and oil platforms – were reviewed by 8% to 1.7%.
The inventory data also become more b & # 39; her health. Inventories in the third quarter have been revised from $ 76.3 billion to $ 86.6 billion.
In the third quarter, exports decreased by & # 39; 4.4%, imports increased by & # 39; 9.2%, and the trade deficit widened.
Because of tax cuts, consumer spending b & # 39; strong and corporate investment accelerated, the US economy has experienced explosive growth in the spring and summer. The unemployment rate fell to 3.7%, lower & # 39; 48 years.
But growth in the fourth & # 39; quarter of 2018 x & # 39; & # 39 is likely to remain; so strong. Analysts expect the US economy to grow by & # 39; 2.7%, or less, in the fourth & # 39; quarter.
Although the economy remains strong, take-off of US interest rates and trade Sino-US tensions continue to dampen economic prospects. In addition, the kinetic energy brought about by tax cuts and government spending increasing at the beginning of & # 39; this year started to decrease. The corporate investment also declined. After the stock market reached a record level in early & # 39; in October, already returned the file.