GDP Growth Clocks In at Sluggish 1.5% in Third Quarter


Well, this kind of sucks: GDP growth in the third quarter clocked in at an anemic 1.5 percent. Consumer spending was up 3.2 percent, but inventories shrank:

The change in private inventories was by far the largest factor holding back stronger growth, subtracting 1.44 percentage points from the overall advance. The pairing down of stockpiles could suggest businesses aren’t confident about future demand and avoided overproducing. The figure could also reflect that falling prices for oil and other commodities caused the dollar value of inventories to decline.

Headwinds from overseas are just too persistent. Europe is weak and China is faltering. In the face of that, it’s hard for the American economy to pick up any steam.

One More Thing

And it's a big one. Mother Jones is launching a new Corruption Project to do deep, time-intensive reporting on the corruption that is both the cause and result of the crisis in our democracy.

The more we thought about how Mother Jones can have the most impact right now, the more we realized that so many stories come down to corruption: People with wealth and power putting their interests first—and often getting away with it.

Our goal is to understand how we got here and how we might get out. We're aiming to create a reporting position dedicated to uncovering corruption, build a team, and let them investigate for a year—publishing our stories in a concerted window: a special issue of our magazine, video and podcast series, and a dedicated online portal so they don't get lost in the daily deluge of headlines and breaking news.

We want to go all in, and we've got seed funding to get started—but we're looking to raise $500,000 in donations this spring so we can go even bigger. You can read about why we think this project is what the moment demands and what we hope to accomplish—and if you like how it sounds, please help us go big with a tax-deductible donation today.

We Recommend

Latest

Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.

Subscribe

Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.

Donate