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JEC Chairman Lee on Third Quarter GDP Growth

Today, Sen. Mike Lee (R-UT), Chairman of the Joint Economic Committee, released the following statement on the Bureau of Economic Analysis’ GDP growth estimate for the third quarter of 2019:

“GDP grew 1.9% in the third quarter estimate for 2019, beating projected estimates. Personal income growth remained strong, allowing consumers to lead economic growth over the quarter even as they also increased personal savings. Residential investment growth, led by single family home construction, was positive for the first time since 2017—a welcome development.”

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