Home|About Us|Our Services|News|Resources|Disclosures|Client Login|Contact Us

Longest U.S. Expansion Keeps Rolling

Newly released data confirmed expectations that the 10-year-old expansion — already the longest ever — will continue growing albeit at a modest pace.

The U.S. Bureau of Economic Analysis on Wednesday revised upward third-quarter economic growth and released a new monthly personal income figure showing a strong acceleration after adjusting for inflation.

The four components of U.S. economic growth — consumers, exports net of imports, state and local government spending, and business investment — grew by 2.13% in third quarter of 2019.

The government issues three estimates of the quarterly growth rate and the first estimate was for a slowing rate of growth in gross domestic product. The new figure is the first revision before the final figure will be released. The GDP growth rate came in at 2.13% in the third quarter, which ended on September 30th, 2019.

U.S. growth is being driven almost entirely by consumers and low inflation.

After adjusting for inflation, real disposable personal income grew by 2.2% in the 12 months ended in October 2019. That was down from September's 12-month rate of growth of 2.6%, but the highs in real disposable personal income per person relative to the two previous expansions are impressive and important. The amount of money the average working American has in their pocket available to spend has not been higher in modern America.

On the Friday after Thanksgiving 2019, the Standard & Poor's 500 index, a grading system for financial economic progress, closed fractionally off an all-time high reached on Wednesday, at 3,140.98.

Happy holiday!


This article was written by a veteran financial journalist based on data compiled and analyzed by independent economist, Fritz Meyer. While these are sources we believe to be reliable, the information is not intended to be used as financial or tax advice without consulting a professional about your personal situation. Tax laws are subject to change. Indices are unmanaged and not available for direct investment. Investments with higher return potential carry greater risk for loss. No one can predict the future of the stock market or any investment, and past performance is never a guarantee of your future results.


Email this article to a friend


This article was written by a professional financial journalist for Neiman & Associates Financial Services, LLC and is not intended as legal or investment advice.

©2020 Advisor Products Inc. All Rights Reserved.
 
Printer Friendly Version
Index
Economists Expected Q1 U.S. Growth Of 1.6%; It's 2.6%! 
Stocks Close At New High As Business Owner Optimism Surged
Retirement Revolution Unexpectedly Is Boosting Economy
Coronavirus Scare Reveals The Nature Of Stock Market Risk
Leading Indicators Slightly Off Again
S&P 500 Breaks All-Time Record Again
Steady Economy Briefly Drives Dow Beyond 29,000
Why Stocks Shrugged Off Iran Escalation
A Spectacular Year For Stocks
A Case For A Bull Market In 2020
Good Economic News Again
An Unusual Constellation Of Economic Surprises
Retirement Income Reality Check
Find The Major Economic Trend Hidden In This Picture
Is The New Record High In Stocks Irrational?
© 2020 Neiman & Associates Financial Services, LLC | 22 Mill Street, Suite 303, Arlington, MA 02476 | All rights reserved
P: 781-641-5700 | F: 617-812-2594 info@neimanonline.com |
Disclosure | Contact Us