The economy gives Trump a breather a month before the midterms elections
The annual GDP advance for the second quarter is revised from 1.5% to 2.2%; inflation stands at 3.4%, three tenths below expectations; and the private sector creates 90,000 jobs.
The US economy has shown signs of improvement with the annual GDP growth rate revised upwards to 2.2% for the second quarter. The inflation rate stood at 3.4% in August, lower than expected, and the private sector created 90,000 new jobs in September. These positive indicators may provide relief to Republicans ahead of the November 3 midterm elections.
The data, released by the US Department of Commerce, showed a better-than-expected performance in investment, consumer spending, and government expenditure. The Federal Reserve's interest rate hike and ongoing energy crisis had previously led to a decline in consumer confidence.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
