Democrat all the way!
- Mar 16, 2010
- Reaction score
U.S. Economy Posts Best Growth in 2 years
This should help Hillary!America finally got some good economic growth.
The U.S. economy expanded at a 2.9% annual rate from July through September compared with the same time a year ago -- the fastest economic growth in two years.
It was the last reading on economic growth before the election, and it came as welcome news: Growth was sluggish in the first half of the year, averaging just above 1%.
"This shows that the U.S. is roughly on track. It's a natural bounce back following a pretty underwhelming year so far," says Luke Bartholomew, fixed income investment manager at Aberdeen Asset Management.
While the economy gained momentum in the third quarter, growth this year comes in at 1.7% -- still slow compared with historical standards.
Donald Trump, the Republican presidential nominee, released a statement calling the quarterly growth "modest." Economists took a brighter view: Barclays and the research firm High Frequency Economics called it solid.
Trump also said that economic growth over the past year has been "dismal." He has promised economic growth of 4% if he is elected president, but economists surveyed by CNNMoney say that is unrealistic.
For the third quarter, American shoppers continued to drive growth, while business spending was less of a drag. Consumer confidence hit a nine-year high in September, according to the Conference Board.