Consumer spending is up 5.6% over the past 12 months.
Insight
October 29, 2018
US Economic Update – October 2018
US economy continued to grow strongly in Q3.
Overview:
- The US economy performed strongly in Q3 2018, and over the last year grew at its fastest rate in over three years.
- With households benefiting from this year’s tax cuts, consumption growth remained strong.
- However, with the impact of this year’s fiscal stimulus set to fade and with monetary policy gradually tightening, we expect US growth to slow over the next two years.
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