US Economy Grows by 2.5% in 3rd Quarter

The US economy expanded by 2.5 percent in the 3rd quarter beating expectations and surpassing the 2 percent increase recorded in the 2nd quarter. Despite three straight quarters of growth however, no appreciable improvement has come to the beleaguered employment market as companies remain reticent to engage in wide-spread hiring.

“This is still, by the standards of history, only a half- speed expansion,” said Avery Shenfeld, chief economist at CIBC World Markets in Toronto. Inflation “is very tame and 2.5 percent growth is not fast enough to put Americans back to work by any extent.”

Source: Bloomberg

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.