U.S Economy Grew At Only Two Percent In Third Quarter of 2015
The U.S. Commerce Department revised slightly downward its already meager assessment of the third quarter of 2015. The updated data reveals that in Q3 the American economy grew at only 2 percent. Overall, the first three quarters of 2015 indicated GDP growth in the United States of two percent. Unless there is an unexpected and massive pickup in Q4, the overall rate of GDP growth in the U.S. will remain at about 2 percent for 2015.
Marginal growth, far below potential, has been the reality since the “recovery” from America’s Great Recession of 2008, sparked by the global economic and financial crisis. Despite unprecedented fiscal and monetary stimulus, the “recovery” still only generates a level of subpar growth that is not only counter to previous recoveries, but is at virtual stall-speed. As the Fed begins to ramp up interest rates after nine years, should another major recession strike the U.S. economy, there are no quivers left in the arsenal of government policy measures.
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