4511 outlook

Economic Outlook: November 1, 2019

Nov 1, 2019  | Ep4511

You may have taken a break to help with Halloween trick-or-treaters this week. Your consumption of candy, both purchased and snuck out of the dish, is helping the economy grow. ---

Consumer spending gained 0.2 percent last month.

The unemployment rate climbed to 3.6 percent.

Even with the drag from the now-settled GM strike, 128,000 jobs were created in October.

The nine-state Mid-America Index rose 2 points above growth neutral despite shrinking inventories and worries over the trade war.

Gross Domestic Product grew at an annualized rate of 1.9 percent in the 3rd quarter.

The Fed is aiming for 2 percent growth and cut interest rates a quarter point as part of their strategy. 

Grinnell Mutual Insurance