US economy sees 2.8% growth as consumer spends rise
Thursday, 31 October 2024 ()
The US economy showed strong growth in Q3, driven by increased household spending and higher federal defense expenditure. Inflation-adjusted GDP grew at an annual rate of 2.8%, with consumer spending rising 3.7%. These figures reflect solid domestic demand as the Federal Reserve eases its stringent monetary policies, just ahead of the upcoming election.
The US economy showed strong growth in Q3, driven by increased household spending and higher federal defense expenditure. Inflation-adjusted GDP grew at an annual rate of 2.8%, with consumer spending rising 3.7%. These figures reflect solid domestic demand as the Federal Reserve eases its stringent monetary policies, just ahead of the upcoming election.
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