US economy looking durable despite risks from trade conflict US economy grew at a moderate 2.1% annual rate in Q3, but slowdown is expected this quarterA series of government reports Wednesday cast a picture of a steadily growing U.S. economy, fueled by solid consumer spending and defying threats — at least for now — from a U.S.-China trade war and a global slowdown. The Commerce Department estimated that the economy grew at a moderate 2.1% annual rate over the summer, slightly better than it had previously estimated. A key reason is that businesses didn’t cut back on investment spending as much as first estimated. The economy had begun the year with a sizzling 3.1% GDP rate, fueled largely by the now-faded effects of tax cuts and increased government spending. Residential investment did rebound to an annual growth rate of 5.1% after six consecutive quarters of falling home investment.

Source: ABC News November 27, 2019 14:28 UTC