U.S. Chamber Comments on Modest Economic Growth

WASHINGTON, D.C.—Following today’s report that real gross domestic product (GDP) expanded at a slightly faster pace, the U.S. Chamber of Commerce’s Chief Economist, Dr. Martin Regalia, issued the following statement:

“Real growth in the third quarter advanced at a 2.0 percent annual rate, up from 1.7% in the second quarter.

“While it was good to see the economy improving, if only modestly, almost ¾ of the growth was represented by inventory building. Relying on increased inventories in the face of weak demand doesn’t give one a strong sense of security in future growth.

“Clearly, it is nice to see improvement but we are still a long way from where we need to be to get job growth up and reemploy those displaced during the downturn.”

The U.S. Chamber of Commerce is the world’s largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.

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