US EditionU.S. economy grew at a solid 2.8% last quarter on strong consumer spending
- The U.S. economy grew at an annualized rate of 2.8% in the third quarter, according to the Commerce Department.
- Consumer spending, which accounts for about 70% of economic output, drove this growth.
- President Joe Biden stated the GDP report shows significant economic improvement since he took office.
109 Articles
109 Articles
The U.S. economy grew at a solid 2.8% annual rate in the third quarter, with consumers helping to drive growth despite still-elevated interest rates.
US economy grew at solid 2.8% pace last quarter
WASHINGTON — The U.S. economy grew at a healthy 2.8% annual rate from July through September, with consumers helping drive growth despite the weight of still-high interest rates. Wednesday’s report from the Commerce Department said the gross domestic product — the economy’s total output of goods and services — did slow slightly from its 3%
First GDP Estimate for Third Quarter Isn't Terrible
The US economy grew at a 2.8% annual rate from July through September, a figure the AP calls "healthy" and CNBC calls "solid though slightly disappointing." Wednesday's report from the Commerce Department said the gross domestic product—the economy's total output of goods and services—did slow slightly from...
United States gross domestic product (GDP) rose 2.8 percent year-on-year in the third quarter of this year, slowing from three percent in the second quarter. This was stated by the US Department of Commerce in its estimate on Wednesday. Thus, the American economy continues to grow solidly, even though interest rates in the US remain at a relatively high level.
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