Vice Chair Maloney: Latest GDP Report "Disappointing"
Congresswoman Carolyn B. Maloney (NY-12), vice chair of the US Congress Joint Economic Committee, issued the following statement after the Bureau of Economic Analysis (BEA) released its third and final estimate of second-quarter gross domestic product (GDP). The report showed that GDP expanded at an annual rate of 2.0% in the second three months of 2019, unchanged from the second estimate of 2.0% growth for Q2, which in turn was a downward revision of the advance estimate of 2.1%.
“This number falls far short of the more than 3% rate that the president has promised and it’s nowhere near the 6% growth that he had predicted two years ago.
“This disappointing number is partly the result of chaos caused by the president’s haphazard trade policies. This hurts manufacturers, farmers and in the end, American consumers.