US Economy Slows To 1.9% In Third Quarter
The American economy marginally slowed in the third quarter of the year as the China trade war again walloped the business sector, according to government figures released on Wednesday.
But GDP growth avoided a steeper drop off thanks to a pickup in home sales and a modest recovery in exports, the Commerce Department said.
GDP expanded 1.9 per cent in the July-September period, well above economists' expectations but a notch lower than the second quarter's 2.0 per cent.
The result, which is subject to revision, could ease pressure on the Federal Reserve to continue cutting interest rates, but a third consecutive rate cut is widely expected later Wednesday.
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