GDP growth in the US fell in the third quarter, falling to an annualised 0.9%.
This was largely due to a decline in manufacturing and mining output, which fell from 1.6% in the fourth quarter to 0.3%.
This decline was offset by a modest rise in services output, with a rise of 0.4%.
However, the data showed a sharp increase in exports, which rose by 0.5%.
In fact, US exports grew by more than 40% in quarter three, while imports grew by almost 50%.
This suggests that the US economy is growing at a much faster pace than the OECD has estimated.
The US GDP growth rate fell to an average of 1.7% in Q3, a sharp drop from 1% in last year’s quarter.
US manufacturing fell by 10.4%, while the number of factories closed fell by 16.6%.
However there were gains for exports, with the US export value of goods up by 0,7%.
Services exports rose by 15.9% to $1.8 trillion, while the import value rose by 7.2%.
The US manufacturing sector grew by 0%, while service sector output fell by 1.2%, and imports by 4.3% in third quarter.
The economy is expected to grow by 3.5% in fourth quarter, as the effects of Hurricane Harvey continue to be felt.
However, growth is likely to slow, as business investment continues to suffer as a result of Hurricane Irma.
GDP growth is expected at a 0.8% annual rate, which is still below the OECD average of 2.4% growth.
GDP is expected increase by 0% in year five.
GDP per capita is expected by the OECD to increase by 1% between year five and year seven.
The OECD has revised down the annual growth rate to 0% and the rate for the full year to 0%.
The US has fallen behind other major economies in several key indicators of economic health.
GDP grew at a 1.9-per-cent annual rate in the first quarter, which was also the slowest rate in history, and was the slowgest in the OECD.
GDP growth was 0.7-per cent in Q4, the slowst rate in years.
In the third and fourth quarters, the US recorded the largest increase in GDP.
In Q3 the US had the highest number of businesses with less than 50 employees.
The number of such businesses was at its highest since 2007, and the number that are smaller than 50 was at a record high.
This was partially offset by the loss of manufacturing jobs due to Hurricane Harvey.
The total number of new manufacturing jobs fell from 623,000 in the second quarter to 616,000 last quarter, with some industries experiencing losses.
US GDP growth was also lower than the international average.
It is unclear whether the economy has recovered from the aftermath of Hurricane Katrina.
In fact the US has recorded the slowEST GDP growth since the global financial crisis, according to the IMF.
The IMF estimates that US GDP contracted by 2.9 per cent in the last quarter of last year, and its growth rate in 2016 was 0%.
The IMF also predicts that the economy will shrink by 3-4% in 2017.
Economists in the UK and US have predicted that the economic recovery will be uneven in the short term, with growth slow and jobs remaining high.