4 sources·Business

US Economy Grows at 3.1% in Q3, Stronger than Previous Estimates

The U.S. economy expanded by 3.1% in the third quarter, highlighting resilient consumer spending and exports despite looming inflation concerns.

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Updated: Dec 19th, 2024, 12:16 PM ET

Summary

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The U.S. economy registered a 3.1% growth for Q3 2024, surpassing prior estimates, driven by strong consumer spending and export growth. This marks a continuation of robust economic performance amid high interest rates and ongoing inflation challenges. Despite an improved economic outlook, recent voter sentiment led to a political shift, with Donald Trump winning the presidency. The unemployment rate stands at 4.2%, while inflation has stabilized at 2.7%. The economy's fundamentals remain strong, prompting discussions on the potential impacts of forthcoming policy changes under the new administration.

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