GDP Growth in Third Quarter Driven by Consumer, Government, and Net Exports

By USDR

 

Representative Kevin Brady, chairman of the Congressional Joint Economic Committee, commented on today’s announcement by the Bureau of Economic Analysis (BEA) that real gross domestic product (GDP) grew at an annual rate of 3.5% during the 3rd-quarter.

 

“It’s positive news that the economy has posted two quarters of good economic growth. Business investment, while up, continues to fall below expectations and remains the missing ingredient to strong and sustained job creation”, said Brady.

 

“What’s hurting the American people is that two stronger quarters in a row isn’t making up for the anemic 2.3% economic growth over the past year and 2.3% annual rate for the entire disappointing Obama recovery. Until the White House changes course from its high tax-high red tape policies that are hurting Main Street businesses, new investment and new job creation will continue to be disappointing.”

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