US Economy Grew At 2.8% Rate In Third Quarter

The Washington Post reports:

The U.S. economy continued its expansion in the third quarter, growing at an annualized rate of 2.8 percent, and offering a spurt of good news for Vice President Harris just days before the election.

The latest gross domestic product report offers a snapshot of a robust economy that has remained steady following a 3 percent reading in the previous quarter, according to data from the Bureau of Economic Analysis released Wednesday morning.

The economy’s resilience ahead of a tightly-contested presidential election was fueled by robust consumer spending that has outlasted even the most optimistic forecasts. Despite inflation, Americans have continued to shell out for a range of goods and services, including cars, dining out and travel.

Read the full article.

U.S. gross domestic product, adjusted for inflation, grew at a 2.8 percent annual rate in the third quarter as cooling inflation and strong consumer spending continued to power the economy.
Data: https://t.co/ASlalyHZ7H
Story: https://t.co/KQpXznQ29N

— Ben Casselman (@bencasselman) October 30, 2024