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Press Release
US Growth Performance Does Not Disappoint
30 October, 2019


Comment on Q3 GDP

US Growth Performance Does Not Disappoint

Ataman Ozyildirim, Senior Director, Economics, The Conference Board

US Real Gross Domestic Product grew by 1.9 percent during the third quarter of 2019, in line with The Conference Board forecast. Consumer spending was again the strongest driver of growth, following a very strong Q2 consumption growth of 4.6 percent. Consumer spending should continue to support growth, despite the weakness in business spending driven by high uncertainty in the global outlook.

The divergence between consumers’ outlook and business confidence is again reflected in this report. Nonresidential fixed investment contributed negatively to GDP growth for two consecutive quarters. In contrast, residential investment improved for the first time since the last quarter of 2017. The US economy is slowing down to its long-term growth potential and should grow at 2 percent for the second half of 2019.

Given the recent underperformance of investment and global uncertainties, the FOMC is expected to cut the Federal Funds rate today. Looking ahead, if the US economy remains around its long-term growth rate, future cuts later in the year will become less likely.

About The Conference Board

The Conference Board is the member-driven think tank that delivers trusted insights for what’s ahead. Founded in 1916, we are a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org.

For further information contact:

Carol Courter
1 212 339 0232
carol.courter@conference-board.org

Joseph DiBlasi
781.308.7935
Joseph.DiBlasi@conference-board.org

ECONOMIC INDICATORS

Leading Economic Index for:

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  • Brazil 0.1%
  • China 1.3%
  • Euro Area 0.4%
  • France 0.2%
  • Germany 0.2%
  • Global 0.1%
  • India 0.8%
  • Japan 0.1%
  • Korea 0.4%
  • Mexico 0.0%
  • Spain 0.1%
  • U.K. 0.4%
  • U.S. 0.1%
  • International Labor Comparisons:
  • Visit ILC website
  • Productivity:
  • Visit Total Economy Database™ website
  • Global Economic Outlook:
  • Visit Global Economic Outlook website