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US economy grew at 2.9 percent rate from July to September

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US economy grew at 2.9 percent rate from July to September

In the third quarter of this year, economy of the USA grew at a 2.9 percent rate, which is the strongest pace over the course of 2 years, according to Martin Crutsinger, the Associated Press.

As the Commerce Department said on Friday, the country’s GDP was double the 1.4 percent pace in the second quarter. There was slowdown of GDP growth last year, due to rising dollar increasing the cost of exported goods. However, as soon as dollar stabilized, export sales recovered.

Nevertheless, the expert believe that over the period of the year, growth will not exceed 1.6 per cent, while in 2017, the economy grew 2.6 percent. It should be noted that this recovery from the recession of the years 2007-2009 has been the weakest one since the second half of the 20th century.

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