US Q3 GDP Growth Exceeded Forecasts
US economy grew more than expected in the third quarter, despite escalation of the US-China trade dispute. The Bureau of Economic Analysis reported, that GDP rose by annual rate of 3.5% in the three-month period from July to September, slowing from growth of 4.2% in Q2, which was the strongest reading in four years. The Q3 data exceeded expectations for a 3.3% gain.
The 3.5% growth left the American economy on track to post its best annual expansion in 13 years. Although analysts expect the strong expansion to continue in the fourth quarter, most economists expect growth to moderate in 2019 and warn of the possible fallout from simmering trade disputes.