Daily Market Updates: US economy grows faster than expected 3.4% in 3Q, driven by consumers, AI investment

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US economy grows faster than expected 3.4% in 3Q, driven by consumers, AI investment

Reported · Written up by our desk · North America

The US economy grew faster than expected in the third quarter as resilient consumer spending and AI-driven business investment more than offset the impact of higher oil prices stemming from the conflict in the Middle East. Gross domestic product increased at a ‌3.4 per cent annualised rate last quarter, the Commerce Department’s Bureau of Economic Analysis said in its advance estimate of third-quarter GDP on Thursday. Economists polled by Reuters had forecast GDP advancing at a 3.2 per cent...

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Sources

SCMP EconomyUS economy grows faster than expected 3.4% in 3Q, driven by consumers, AI investment

Guardian EconomicsUS economy grows faster than expected but inflation rises to 3.7%

Global Markets

US economy grows faster than expected 3.4% in 3Q, driven by consumers, AI investment

More like this

Sources

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