The economy south of the border grew at a moderate 2.1% rate over the summer, slightly faster than first estimated. But many economists say growth is to slow sharply in the current quarter.
Figures released Wednesday by the U.S. Commerce Department says the July-September growth rate in the gross domestic product, the economy’s total output of goods and services, slightly exceeded its initial estimate of a 1.9% rate.
The U.S. economy had begun the year with a sizzling 3.1% GDP rate. Many economists have estimated that GDP growth is weakening in the current quarter to as slow as a sub-1% annual rate, largely because the U.S.-China trade war has led businesses to cut investment and inventories.
Still, the holiday shopping season is expected to be relatively healthy given solid job growth and consumer spending.
