Real gross domestic product (GDP) increased at an annual rate of 1.9% in the third quarter of 2019, according to the Department of Commerce. This is slightly above economist’s predictions of a 1.6% increase. In the second quarter, real GDP increased 2.0%.
“The better-than-expected print was the result of continued consumer spending as well as government expenditures, the government said. Personal consumption expenditures, a gauge of spending by American households, rose at a 2.9% annualized rate while government spending grew at a 2% rate,” CNBC reports.