The latest release of the Quarterly Economic Digest (QED), published this week, is showing strong growth trends across several elements of the U.S. economy during the third quarter of 2016.
Rep. Carolyn Maloney (D-NY), ranking member of the U.S. Congress Joint Economic Committee (JEC), highlighted steady economic expansion and a 3.2 percent increase in real GDP as bright spots in the report, while pointing to a decline in residential investment and manufacturing employment as areas of concern.
“The third quarter showed strong increases in employment and GDP across the U.S.,” Maloney said.
“These numbers, along with the most recent jobs report, show how far our economy has come in the past eight years. Thanks to the economic policies of President Barack Obama and Congressional Democrats, the next President will be inheriting a far superior economy than what President Obama faced when he took office nearly eight years ago. Instead of being on the brink of another Great Depression, our country is now at near full-employment, with solid GDP growth,” Maloney said. “It is imperative that the incoming administration and Congressional Republicans do not take us back to the economic policies that led to the Great Recession in the first place.”
The economic digest is published quarterly, following the publication of major economic indicators. The next issue will be released in the spring of 2017.