Washington DC — The U.S. economy grew at a robust annual rate of 3.5 percent in the July-September quarter as the strongest burst of consumer spending in nearly four years helped offset a sharp drag from trade.
The Commerce Department said Friday that the third quarter’s gross domestic product, the country’s total output of goods and services, followed an even stronger 4.2 percent rate of growth in the second quarter.
The two quarters marked the strongest consecutive quarters of growth since 2014.
It was certain to be cited by President Donald Trump as evidence his economic policies are working.
The result was slightly higher than many economists had been projecting.
But some private economists worry that the recent stock market declines could be a warning signal of a coming slowdown.
The GDP report along with next week’s unemployment report for October are the last major looks at the economy before voters go to the polls in the mid-term elections.