California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
U.S. Economy Slows to Moderate Growth Rate
The U.S. economy grew at a moderate annual rate of 1.9% in Q3 2019. The Commerce Department reported the slowing pace of real gross domestic product (GDP) was driven by a downshift in consumer spending, while trade war uncertainties and a declining global economy resulted in cuts in corporate investments.
The July-September GDP performance registered just below the Q2’s 2% growth rate.
Yet, economists had feared a bigger slowdown of 1.4% or less. Consumer spending grew at a solid 2.9% rate Q3, though decelerated from Q2’s 4.6% surge.
Business investment in structures fell for the fourth out the last five quarters, sinking at a 15.3% rate Q3 following Q2’s 11.1% drop. Residential investment, which had been falling since Q1 2018, experienced a 5.1% rate increase, likely reflecting the impact of lower mortgage rates.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Economy


