The U.S economy rebounded in the third quarter 2.9% annualized increase in gross domestic product (GDP). This is the biggest increase in GDP reported in two years, and a significant increase from the 1.4% reported the previous quarter. The reason for the jump is a surge in exports as built in inventories and soybean helped, according to the Commerce Department.
Stephen Stanley, chief economist at Amherst Pierpont Securities LLC in New York, explained, “The economy is good but not great… The economy is going to continue to rise and fall with the consumer, and the best news there is that the underlying fundamentals are strong.”
The news could give Democratic presidential candidate Hillary Clinton a more convincing argument to the continuation President Obama’s policies. The counter argument of the Republican Nominee Donald Trump is that the policies of the current administration led to the slowest economic recovery in recent history, and while this is true, economists are not sure how is that a negative point, since slow yet stable growth may prove to be more resilience over time.