Report | United States Economy Insight - December 2016
With just one month left in 2016, the economy is maintaining the momentum that it has gradually built as the year progressed. The second reading for third quarter real GDP growth showed an upside surprise versus the first reading, with growth revised from an annual rate of 2.9% to 3.2%.
In addition, the economy created 178,000 net new jobs in November, roughly in line with expectations, which was a solid if not spectacular result.
Current projections for the fourth quarter indicate that 2016 real GDP growth will be at least in line with, if not greater than, the 2.1% annual average growth rate from mid-2009 through the end of 2015.
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