GDP FOR 3RDQ/’24 SLIDES TO 2.8 PERCENT

The U.S. Bureau of Economic Analysis (BEA) has issued its latest report: Real Gross Domestic Product (GDP) increased at an annual rate of 2.8 percent in the third quarter of 2024, according to the "advance" estimate. In the second quarter, real GDP increased 3.0 percent. The slowdown in the third quarter primarily reflected increases in consumer spending, exports, and federal government spending. While on the other hand “imports,” which are a subtraction in the calculation of GDP, increased.  The new quarterly data seems to be in line with other economic trends that appear to be signaling a more sluggish economy overall.