The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019 {{ new Date().getDay() }}

Washington (AFP) – U.S. growth surged to its highest level in 11 years in the third quarter, according to an updated government estimate released Tuesday.

Gross domestic product (GDP) increased five percent between July and September in the Commerce Department’s third estimate for the period, up from the 3.9 percent previously estimated.

Analysts had expected growth of 4.3 percent.

Tuesday’s figures built on the momentum from the second quarter, when growth came in at 4.6 percent.

The U.S. economy contracted 2.1 percent in the first quarter of 2014, a weak result mainly attributed to the abnormally cold winter, but has since recovered strongly.

Spending for consumption rose 3.2 percent, the biggest jump since the end of 2013. Consumption of goods rose 4.7 percent, while spending on services gained 2.5 percent.

The updated figures come on the heels of a strong November jobs report, which showed the U.S. economy adding 321,000 jobs.

Federal Reserve Chair Janet Yellen last week said the U.S. economy is improving steadily, but said the labor market still needs to strengthen and signaled that interest rates would remain low for months.

AFP Photo/Paul J. Richards

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Chief Justice John Roberts

The House Select Committee hearings are swaying political independents and centrists to reject the power-grabbing tactics used by Donald Trump and his Republican enablers to overturn the 2020 presidential election, according to several polls and surveys of battleground state voters released on Thursday, June 30.

“Vast majorities of the American people are paying attention, and they are deeply concerned,” said Leslie Dach, co-chair of Defend Democracy Project, an advocacy group dedicated to the principle that voters determine the outcome of elections. “They believe that a crime has been committed. They want accountability in the courts and at the ballot box. And they hold not just President Trump responsible, but they hold his allies and Republicans responsible for what happened.”

Keep reading... Show less

Jeff Danziger lives in New York City. He is represented by CWS Syndicate and the Washington Post Writers Group. He is the recipient of the Herblock Prize and the Thomas Nast (Landau) Prize. He served in the US Army in Vietnam and was awarded the Bronze Star and the Air Medal. He has published eleven books of cartoons, a novel and a memoir. Visit him at DanzigerCartoons.

{{ post.roar_specific_data.api_data.analytics }}