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US economic growth slows to 1.5% in Q3

by ChemOrbis Editorial Team -
  • 30/10/2015 (09:40)
According to the U.S. Commerce Department, economic growth in the US slowed to 1.5% in the third quarter, a significant drop from the revised growth rate of 3.9% posted in the previous quarter. On a yearly basis, meanwhile, the US economy expanded 2%, posting its slowest growth since the first quarter of 2014.

The deceleration in the economy stemmed from weaker private inventories and a slowdown in exports, consumption and state and local government spending. Some economists commented that weaker inventories, a stronger dollar and sluggish global growth are weighing down the U.S. economy.

On October 28, the US Federal Reserve (Fed) held its interest rates steady due to weakening job gains in the last two months and the slowing economy while it signaled that a rate hike could be coming in December.
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