ZCZC
BCN-17
US-ECONOMY-GROWTH
U.S. economic growth slows to 3.5 pct in Q3
WASHINGTON, Oct. 27, 2018 (BSS/Xinhua) – The U.S. economy grew at an
annual rate of 3.5 percent in the third quarter this year, down from 4.2
percent in the previous quarter, the U.S. Commerce Department reported on
Friday.
Personal consumption expenditures, which account for more than two thirds
of the overall economy, grew at an annual rate of 4 percent in the third
quarter, up from 3.8 percent in the second quarter, according to the
department.
But non-residential fixed investment, a measure of corporate spending on
structures and equipment, increased only 0.8 percent in the third quarter
after rising 8.7 percent in the previous three months.
While U.S. exports declined 3.5 percent in the third quarter, imports rose
9.1 percent as American importers stepped up purchases of foreign goods. The
widening trade gap subtracted about 1.78 percentage points from GDP growth in
the third quarter.
BSS/XINHUA/HR/1220