US GDP slowed to 3.5% in the third quarter

US GDP slowed to 3.5% in the third quarter


The agency has decided to maintain the same estimate because the upward revisions of non-residential fixed investment and in private inventories have compensated for the downward revisions of government spending and the personal consumption expenditure price index.

The slowdown in GDP comes after the second quarter of this year saw the highest growth since 2014, according to data released by the US Executive.

Consumer spending, which represents the largest contribution to the growth of the United States economy, grew at a rate of 4%, equivalent to 1.8 percentage points more than in the same quarter of 2017, as well as an increase of two tenths against the immediately preceding quarter.

Government spending and investment increased by 3.3% between July and September 2018, eight tenths more than in the three previous months. Meanwhile, net exports fell by 3.5%, the first decline since the fourth quarter of 2016, unlike imports, which rebounded by 9.1%, confirming the data released in the first estimate.

On the other hand, the US Department reported that the personal disposable income of Americans increased by 4.1%, four tenths less than the previous quarter. Also, the personal savings rate stood at 6.4%, compared to 6.8% in the second quarter of the year.

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