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Tipsheet

GDP Just Came Crashing Down

AP Photo/Evan Vucci

The GDP came crashing down in the third quarter, missing expectations and coming in at just two percent. Economists predicted the number would land at 2.6/2.7 percent. 

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"In terms of GDP, 2.6 percent's what people were looking for. Not that many months ago we were looking for a number closer to 7 percent. This is a disappointment of two percent. Only up two percent," CNBC reported Thursday morning. 

Second quarter GDP numbers came in at 6.7 percent, making Q3 a significant drop. 

"The broadest measure of economic performance – grew at a 2% annual rate during the three months through September, the slowest in five quarters, according to an advance estimate released Thursday by the Commerce Department," Fox Business reports. 

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As inflation on everyday household items continues to soar, the GDP is getting deflated. 

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