Commerce Dept: US Economy Slowed In Third Quarter

NPR reports:

President Trump is counting on a strong economy to help him win reelection next year. But new numbers from the Commerce Department show the economy lost steam during the summer and early fall.

GDP — the broadest measure of economic activity — grew at an annual rate of just 1.9% during the third quarter. That’s a deceleration from the lackluster second quarter, when GDP grew at a 2% pace. At this point, it would take an economic miracle to achieve the 3.2% growth rate for the full year predicted in the president’s budget.

“Oh, we won’t get a 3-plus% growth rate for the year,” said Diane Swonk, chief economist at Grant Thornton. “That’s not going to happen.”