Chart of the Day: GDP Growth in Q3

The economy grew at an annualized rate of 3.0 percent in the third quarter of 2017. This is a pretty good result, especially considering the revision of last quarter’s growth to 3.1 percent. That’s two quarters in a row of 3 percent growth. Third quarter growth was mostly driven by a sizeable increase in the purchase of consumer durable goods (cars, refrigerators, etc.) and an even bigger increase in the purchase of commercial equipment (computers, backhoes, etc.). Investment in housing was down considerably for the second quarter in a row.

Disposable personal income increased by $51 billion less than in the second quarter. Consumers apparently made up for this by eating into savings, which decreased $51 billion compared to the second quarter. This is a small red flag, but nothing to get too concerned about unless it keeps up.

Aside from the fact that Donald Trump will start crowing about how growth like this has never been seen before in human history, this is basically good news. I remain concerned about some signs here and there that point to a fairly tired expansion, but so far there’s no indication that the US economy is in anything but pretty decent shape.

LESS DREADING, MORE DOING

This is the rubber-meets-road moment: the early days in our first fundraising drive since we took a big swing and merged with CIR to bring fearless investigative reporting to the internet, radio, video, and everywhere else that people need an antidote to lies and propaganda.

Donations have started slow, and we hope that explaining, level-headedly, why your support really is everything for our reporting will make a difference. Learn more in “Less Dreading, More Doing,” or in this 2:28 video about our merger (that literally just won an award), and please pitch in if you can right now.

payment methods

LESS DREADING, MORE DOING

This is the rubber-meets-road moment: the early days in our first fundraising drive since we took a big swing and merged with CIR to bring fearless investigative reporting to the internet, radio, video, and everywhere else that people need an antidote to lies and propaganda.

Donations have started slow, and we hope that explaining, level-headedly, why your support really is everything for our reporting will make a difference. Learn more in “Less Dreading, More Doing,” or in this 2:28 video about our merger (that literally just won an award), and please pitch in if you can right now.

payment methods

We Recommend

Latest

Sign up for our free newsletter

Subscribe to the Mother Jones Daily to have our top stories delivered directly 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