The U.S. economy experienced a robust 4.3% annual growth rate in the third quarter, surpassing expectations of 3% and marking the strongest growth in two years. This increase was driven by heightened consumer spending, rising exports at an 8.8% rate, and government expenditures, despite ongoing concerns about the job market and inflation. The personal consumption expenditures index rose to 2.8%, above the Federal Reserve’s target, while unemployment climbed to 4.6%. This report, delayed due to a government shutdown, is the first of three GDP growth estimates for the quarter.
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