• Latest
  • Trending
  • All
  • News
  • Business
  • Lifestyle
US Economic Growth Was Weaker Than Expected In Third Quarter

US Economic Growth Was Weaker Than Expected In Third Quarter

October 30, 2024
Democrat Congresswoman Charged With Assaulting Law Enforcement In Stunt At ICE Center

Democrat Congresswoman Charged With Assaulting Law Enforcement In Stunt At ICE Center

May 19, 2025
Steve Moore Explains Why Problems With GOP Spending Bill ‘Not A Hard Fix’

Steve Moore Explains Why Problems With GOP Spending Bill ‘Not A Hard Fix’

May 19, 2025
EXCLUSIVE: Trump HHS Yanks $60,000,000 In Federal Funding From Harvard

EXCLUSIVE: Trump HHS Yanks $60,000,000 In Federal Funding From Harvard

May 19, 2025
Democrat Congresswoman Charged For Assaulting Law Enforcement In Stunt At ICE Center

Democrat Congresswoman Charged For Assaulting Law Enforcement In Stunt At ICE Center

May 19, 2025
Trump Rolls The Dice On Syria

Trump Rolls The Dice On Syria

May 19, 2025
‘Betrayed Us’: Dems’ Antisemitism Problem Could Help GOP Pick Up Heavily Jewish NY Seat

‘Betrayed Us’: Dems’ Antisemitism Problem Could Help GOP Pick Up Heavily Jewish NY Seat

May 19, 2025
Trump Admin to Pay Almost $5 Million for Shooting of Ashli Babbit

Trump Admin to Pay Almost $5 Million for Shooting of Ashli Babbit

May 19, 2025
Activists Target Red State Pro-Life Centers, College Students With Abortion Tourism Ads

Activists Target Red State Pro-Life Centers, College Students With Abortion Tourism Ads

May 19, 2025
Faculty At Major University Vow To ‘Resist’ Trump’s ICE, Declare ‘Sanctuary Union’

Faculty At Major University Vow To ‘Resist’ Trump’s ICE, Declare ‘Sanctuary Union’

May 19, 2025
James Comey Attempts To Shift Blame Onto Trump Admin For ‘Distraction’ Surrounding Alleged Assassination Post

James Comey Attempts To Shift Blame Onto Trump Admin For ‘Distraction’ Surrounding Alleged Assassination Post

May 19, 2025
‘Sickening’: DHS Spox Calls Out Tim Walz For ‘Vilifying’ ICE Agents

‘Sickening’: DHS Spox Calls Out Tim Walz For ‘Vilifying’ ICE Agents

May 19, 2025
EXCLUSIVE: GOP Rep Introduces Bill To Protect US Infrastructure From Chinese Threats

EXCLUSIVE: GOP Rep Introduces Bill To Protect US Infrastructure From Chinese Threats

May 19, 2025
  • Donald Trump
  • State of the Union
  • Elon Musk
  • Tariffs
  • Congress
  • Faith
  • Immigration
Monday, May 19, 2025
  • Login
IJR
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls
No Result
View All Result
IJR
No Result
View All Result
Home News

US Economic Growth Was Weaker Than Expected In Third Quarter

by Daily Caller News Foundation
October 30, 2024 at 9:51 am
in News, Wire
247 5
0
US Economic Growth Was Weaker Than Expected In Third Quarter
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Daily Caller News Foundation

The U.S. economy grew at a rate of 2.8% in the third quarter of 2024, according to Bureau of Economic Analysis (BEA) statistics released Wednesday.

The growth in the third quarter comes after a better-than-expected 3.0% growth rate in the second quarter of 2024, according to the BEA. Economists forecast that GDP would increase by about 3.0% in the third quarter, according to Forecast.com.

The economic growth in the second quarter had improved compared to the lackluster growth in the first quarter, which measured at an annual rate of 1.4% after being updated from an initial estimate of 1.6%, according to the BEA.

The U.S. Federal Reserve announced on Sept. 18 that it was cutting its federal funds rate target range by 0.50% in an attempt to boost economic growth and GDP. The decision came just under seven weeks before the presidential election, and was the first change to Fed policy since July 2023 and the first cut since March 2020. Prior to September’s rate cut, the Fed had previously kept its target range between 5.25% and 5.50%, which was the highest range since 2001.

The Fed lowering its target rate followed inflation dropping to 2.5% in August. Inflation dipped further in September, leaving some concerned about a hotter-than-expected economy.

The unemployment rate dropped to 4.1% in September, and the U.S. added 254,000 nonfarm payroll jobs. Unemployment was also down in August at 4.2%, which marked the first time that unemployment had ticked down since March.

Inflation under the Biden administration reached a peak of 9% in June 2022, up from 1.4% when President Biden first took office in January 2021.

The economy is one of the top issues for voters in this election. The majority of voters, 52%, said the candidates’ positions on the economy are “extremely important,” according to a Gallup poll published Oct. 9.

The second estimate for the third quarter will be released on Nov. 27, according to the BEA.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

Tags: businessDCNFU.S. News
Share196Tweet123
Daily Caller News Foundation

Daily Caller News Foundation

Advertisements

Top Stories June 10th
Top Stories June 7th
Top Stories June 6th
Top Stories June 3rd
Top Stories May 30th
Top Stories May 29th
Top Stories May 24th
Top Stories May 23rd
Top Stories May 21st
Top Stories May 17th

Join Over 6M Subscribers

We’re organizing an online community to elevate trusted voices on all sides so that you can be fully informed.





IJR

    Copyright © 2024 IJR

Trusted Voices On All Sides

  • About Us
  • GDPR Privacy Policy
  • Terms of Service
  • Editorial Standards & Corrections Policy
  • Subscribe to IJR

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls

    Copyright © 2024 IJR

Top Stories June 10th Top Stories June 7th Top Stories June 6th Top Stories June 3rd Top Stories May 30th Top Stories May 29th Top Stories May 24th Top Stories May 23rd Top Stories May 21st Top Stories May 17th