Chart of the Day: GDP Growth in Q3

The US economy grew 3.5 percent in the third quarter:

This is a good number, but it’s down from last quarter. However, personal consumption was up (4.0 percent), gross private investment was up (12.0 percent), and government consumption was up (3.3 percent). That’s a nice, even spread. Oddly, however, business fixed investment was up only 0.8 percent. Given the recent tax cut and the strong showing of corporate earnings last quarter, you’d think business investment would be stronger. Do they know something the rest of us don’t?

Maybe. More likely, though, this is just noise. A single reading for a single quarter doesn’t mean a whole lot. Overall, the economy still looks pretty good.

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THE BIG PICTURE

You expect the big picture, and it's our job at Mother Jones to give it to you. And right now, so many of the troubles we face are the making not of a virus, but of the quest for profit, political or economic (and not just from the man in the White House who could have offered leadership and comfort but instead gave us bleach).

In "News Is Just Like Waste Management," we unpack what the coronavirus crisis has meant for journalism, including Mother Jones’, and how we can rise to the challenge. If you're able to, this is a critical moment to support our nonprofit journalism with a donation: We've scoured our budget and made the cuts we can without impairing our mission, and we hope to raise $400,000 from our community of online readers to help keep our big reporting projects going because this extraordinary pandemic-plus-election year is no time to pull back.

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