economic activity – One America News Network

US third-quarter economic growth unrevised at 2.8%

The U.S. economy grew at a solid clip in the third quarter, the government confirmed on Wednesday, amid robust consumer spending.

U.S. business activity fell to a 4-month low in August and firms continued to struggle to pass on higher prices to consumers.

U.S. retail sales barely rose in May, suggesting that economic activity remained lackluster in the second quarter.

Economists cautioned the decline may be due to winter storms and technical factors.

U.S. prices rose marginally in December, keeping the annual increase in inflation below 3% for a third straight month.

The U.S. economy grew faster than initially thought in the third quarter, but momentum appears to have since waned.