US GDP growth slowed to 3.5% in the third quarter

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The US Commerce Department reported that the US economy grew 3.5% year-on-year in annual terms after rising 4.2% a quarter earlier. Thus, economic growth in the country has slowed. Experts had expected an even more significant slowdown – up to 3.3%. At the same time, consumer spending growth by 4%, which became a record since the 4th quarter of 2014, exceeded the growth predicted by analysts by 3.3%. US companies increased their investment by 0.8%. The size of their investments in equipment increased by 0.4%, in intellectual property – by 7.9%. The federal government increased defense spending by 4.6%. For other needs, expenses increased by 1.5%. In the third quarter, exports decreased by 3.5%, including the fall in exports of goods amounted to 7%, while exports of services increased by 3.5%. The volume of imports increased by 9.1%.

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