Issues and events that shape Long Island's economic and legislative landscape.

Tuesday, September 27, 2016

LIA Monthly Economic Report - Economy Vulnerable to External Shocks

Recent economic reports indicate that the U.S. economy is generating enough momentum to avoid another recession but not enough to significantly reduce unemployment. GDP growth in the third quarter of this year was revised downward from 2.5% to 2.0%. Economic output remains 3% below its level at the start of the recession. Job growth is slow and home prices are still falling. This leaves the American economy vulnerable to external shocks.

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