The U.S. economy unexpectedly maintained a brisk pace of growth in the third quarter as an increase in inventory investment and a smaller trade deficit offset a hurricane-related slowdown in consumer spending and a decline in construction. Gross domestic product increased at a 3.0 percent annual rate in the July-September period after expanding at a 3.1 percent pace in the second quarter, the Commerce Department said on Friday. The department said while it was impossible to estimate the overall impact of hurricanes Harvey and Irma on third-quarter GDP, preliminary estimates showed that the back-to-back storms had caused losses of $121.0 billion in privately owned fixed assets and $10.4 billion in government-owned fixed assets. I tend to believe that presidents often get too much blame and credit for the performance of the nation's economy, but a credible case can be made that Trump's deregulation and pro-business signals, coupled with the (advancing) promise of tax reform, have fostered confidence and optimism.
Edited by cwjga (10/27/1712:57 PM)
Trump removes 100 troops from harm's way and deep staters have a meltdown. Unbelievable.