Growth is in sharp contrast to households’ assessment, reflected in Trump’s record-low approval ratings 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 (GDP) increased at a 3.4% annualized rate last quarter, the commerce department’s bureau of economic analysis said in its advance estimate of the third quarter GDP on Thursday. Economists polled by Reuters had forecast GDP advancing at a 3.2% pace. Continue reading...
US economy grows faster than expected in report out just ahead of elections
Source: The Guardian
Original reporting
The Guardian: read the full reportRelated stories
BBC Business
Poundland's future hangs in the balance as chain edges towards collapse
Poundland's bosses is filing a notice of intention to appoint administrators to the business.
CNBC
European Central Bank keeps key interest rate on hold at 2.5%
CNBC
Home prices fall and rents rise, both for the first time in three years
The median U.S. home sale price fell for the first time in more than three years, according to a new report from Redfin, a real estate brokerage.
CNBC
Steve Eisman gets more conservative with portfolio as AI trade nears 'tipping point'
The noted investor, famous from "The Big Short," says it would be "impossible" for an AI crash not to hurt the broader market
CNBC
Eli Lilly hikes sales outlook, as CEO says there's room for 'dramatic' obesity market expansion
Eli Lilly reported that sales of obesity drug Zepbound and diabetes treatment Mounjaro surged again in the third quarter.
CNBC
Third-quarter U.S. GDP increases a better-than-expected 3.4% as September inflation accelerates
The personal consumption expenditures price index was projected to increase 0.5% in September for an annual rate of 3.7%, according to the Dow Jones consensus.