Disappointing Economic Growth Yet Again

• Inflation-adjusted GDP grew at an annualized rate of 1.5 percent in the third quarter of 2015.

• Private domestic investment took a hit, decreasing 5.6 percent from the previous quarter.

Today the Commerce Department’s Bureau of Economic Analysis reported that inflation-adjusted GDP grew at an annualized rate of 1.5 percent in the third quarter of 2015. In the last four quarters, the economy has grown at only 2 percent. Two of the largest components of our nation’s economy also changed by large amounts: personal consumption expenditures increased by 3.2 percent, while private domestic investment decreased by 5.6 percent. The previous quarter’s economic growth was 3.9 percent.

Under President Obama, the economy continues to be unable to hit high gear. President Obama’s peak growth is still far below the peak reached under presidents Reagan and Clinton.