Image copyright
Getty images
US economic growth slowed in the third quarter, but exceeded some economists' expectations for a bigger contraction.
According to Commerce data, GDP growth for the three months was 1.9 percent, 1.6 percent higher than expected.
Consumer spending remained better than expected, offsetting lower business investment and lower public spending.
But growth in 2019 is still the slowest, coming a few hours before the Federal Reserve announced its latest interest rate announcement.
Last quarter's GDP growth was only 2 percent, three months before the end of June. In the third quarter of 2018, the U.S. economy grew 3.4{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}.
The Trump administration's trade war with China has undermined business confidence, and the stimulus fading of last year's $ 1.5 trillion tax cut package has also cast a shadow on expansion.
Analysis: Andrew Walker, BBC Economic Correspondent
For many economists, the biggest worry about the US outlook is a trade dispute with China and other countries.
The new figures show an increase in exports after a significant decline over the past three months. But it was a very weak growth.
As part of this trade dispute, imports subject to additional tariffs did not increase at all, but did not regain strength after the second quarter.
The figures thus influence the story of trade as a continuing problem of US economic growth.
Nevertheless, many estimates of the economic potential of the economy made it possible for rational growth as a whole.
This means that the economy can't be expected to grow much faster during the actual duration.
Wednesday's figures, suggesting flexible consumer spending and stronger-than-expected housing construction, will alleviate the fear that the US will fall into recession.
Consumer spending, which accounts for more than two-thirds of US economic activity, surged at a rate of 4.6{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} in the second quarter, the fastest since the fourth quarter of 2017, and then slowed to a healthy 2.9{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5} last quarter. Consumer spending has been driven by the lowest unemployment rate for nearly 50 years.
Ian Shepherdson, chief economist at Pantheon Macroeconomics, said the growth figures "may go bad," but the fourth quarter "may be."
"Growth was above consensus because consumption rose to 2.9{7be40b84a6a43fc4fae13304fce9a2695859798abfc41afd127b9f8b21c5f9c5}.
"In the fourth quarter [the fourth quarter] There will be a steady increase in consumption, as the number of chain stores shows that people have accelerated spending after the announcement of tariffs on imported Chinese consumer goods on August 1. This led to an increase in third-quarter spending with fourth-quarter costs. "
Rate cuts?
Treasury Secretary Steven Mnuchin added that global growth slowed and had a gentle effect on the United States ahead of GDP figures, and the US economy remained strong due to capital inflows.
"There is no question that the world economy has slowed and there has been some drag on the US economy," he said at an investment conference in Riyadh, the Saudi capital.
On Wednesday, the US Central Bank expects many economists to close a two-day policy meeting with an announcement of a rate cut.
Sal Guatieri, senior economist at BMO Capital Markets, said, "Nothing will surprise the Fed in today's report." "The crisis of capital spending due to the trade war will motivate the third rate cut. But still sound consumers can give a reason to stop at future meetings."