Chart of the Day: Economy Picks Up Nicely in Q3

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Real GDP grew at an annual rate of 2.9 percent in the third quarter. This is a fairly healthy number, driven largely by a big increase in purchases of durable goods (cars, refrigerators, etc.). Purchases of nondurable goods fell, and investment in residential housing also fell, for the second straight quarter. Exports were up considerably.

Politically, this is good news for Hillary Clinton. Donald Trump wants this to be a change election, but if inflation is low, unemployment is low, and economic growth is healthy, an awful lot of people are going to think that an extension of the Obama presidency sounds pretty good.

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