The
U.S. economy grew 3.1% during the third quarter of 2017. This was higher than
expected after several states were damaged by hurricanes Irma and Harvey. Many
analysts believed that there would be a sharp slowdown in our economic growth
following the devastating results of this year’s hurricane season. However,
spending held steady, even though home building investment dropped. Consumer
spending had a 2.3% growth, added with the increased growth of exports;
business investments in equipment and intellectual property kept the GDP growth
rate at 3%. This was despite the fall of construction spending, mainly due to
the effects of the hurricanes this year. [more...]
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