Economists point out that although the overall growth rate has slightly slowed down compared to the second quarter, it is still relatively strong compared to history. In the previous economic expansion cycle, from the second quarter of 2009 to the fourth quarter of 2019, the average annual growth rate of US GDP was 2.5%. The current economic growth rate is also much higher than what economists believe to be the long-term trend. According to the economic forecast released by the Federal Reserve in September, Fed officials believe that the long-term growth rate of the US economy is expected to be 1.8%.