U.S. economy grows at 3.1% pace in third quarter, an upgrade from previous estimate
3 months, 1 week ago

U.S. economy grows at 3.1% pace in third quarter, an upgrade from previous estimate

Associated Press  

WASHINGTON — The American economy grew at a healthy 3.1% annual clip from July through September, propelled by vigorous consumer spending and an uptick in exports, the government said in an upgrade to its previous estimate. Third-quarter growth in U.S. gross domestic product — the economy’s output of goods and services — accelerated from the April-July rate of 3% and continued to look sturdy despite high interest rates, the Commerce Department said Thursday. Consumer spending, which accounts for about two-thirds of U.S. economic activity, expanded at a 3.7% pace, fastest since the first quarter of 2023 and an uptick from Commerce’s previous third-quarter estimate of 3.5%. Within the GDP data, a category that measures the economy’s underlying strength rose at a solid 3.4% annual rate from July through September, an upgrade from the previous estimate and up from 2.7% in the April-June quarter. The Federal Reserve’s favored inflation gauge — called the personal consumption expenditures index, or PCE — rose at just a 1.5% annual pace last quarter, down from 2.5% in the second quarter.

Economy Inflation Spending Consumer Spending Rate Third Quarter Estimate Quarter Growth Previous Estimate  gdp  spending  inflation  grows  pace  quarter  growth  economy  upgrade  31  estimate  rate  previous  investment  federal

History of this topic

Inflation is easing, but another alarm bell is ringing about the US economy
1 month ago

Inflation is easing, but another alarm bell is ringing about the US economy

CNN  

CNN — The Federal Reserve’s preferred inflation gauge cooled as expected in January; however, the good news came with another potential red flag for the US economic engine: Consumers pulled back their spending by the most in nearly four years. The Personal Consumption Expenditures price index rose 2.5% in January from the year before, slowing from December’s 2.6% annual rate, …

Second estimate of US growth confirms a 2.3% annual pace expansion in fourth quarter
1 month ago

Second estimate of US growth confirms a 2.3% annual pace expansion in fourth quarter

Associated Press  

WASHINGTON — The American economy grew at a solid 2.3% annual rate the last three months of 2024, supported by a burst of year-end consumer spending, the government said, leaving unchanged its initial estimate of fourth-quarter growth. The Commerce Department reported Thursday that growth in gross domestic product — the nation’s output of goods and services — decelerated from a …

US inflation is lingering and tariffs threatened by Trump could nudge prices in wrong direction
1 month, 3 weeks ago

US inflation is lingering and tariffs threatened by Trump could nudge prices in wrong direction

Hindustan Times  

WASHINGTON — An inflation gauge closely watched by the Federal Reserve rose slightly last month, while some underlying prices pressures showed signs of easing. US inflation is lingering and tariffs threatened by Trump could nudge prices in wrong direction The latest inflation figures arrive as President Donald Trump has threatened to impose big import taxes on goods from Canada and …

US inflation is lingering and tariffs threatened by Trump could nudge prices in wrong direction
1 month, 3 weeks ago

US inflation is lingering and tariffs threatened by Trump could nudge prices in wrong direction

Associated Press  

WASHINGTON — An inflation gauge closely watched by the Federal Reserve rose slightly last month, while some underlying prices pressures showed signs of easing. When measured in shorter time frames, inflation is slowing: In December, core prices ticked up 0.2% from the previous month, a pace that is nearly consistent with the Fed’s annual target. But the Fed’s preferred gauge …

U.S. inflation is lingering and tariffs threatened by Trump could nudge prices in wrong direction
1 month, 4 weeks ago

U.S. inflation is lingering and tariffs threatened by Trump could nudge prices in wrong direction

LA Times  

An inflation gauge closely watched by the Federal Reserve rose slightly last month, while some underlying price pressures showed signs of easing. Friday’s report from the Commerce Department showed that consumer prices rose 2.6% in December from a year earlier, up from a 2.4% annual pace in November and the third straight increase. When measured in shorter time frames, inflation …

U.S. economy grows solid 2.3% in October-December on eve of Trump return to White House, 2.8% in ’24
1 month, 3 weeks ago

U.S. economy grows solid 2.3% in October-December on eve of Trump return to White House, 2.8% in ’24

Associated Press  

WASHINGTON — A humming American economy ended 2024 on a solid note with consumer spending continuing to drive growth, and ahead of what could be a significant change in direction under a Trump administration. But a category within the GDP data that measures the economy’s underlying strength rose at a healthy 3.2% annual rate from July through September, slipping from …

U.S. economy grows solid 2.3% from October to December, 2.8% for full year 2024
1 month, 4 weeks ago

U.S. economy grows solid 2.3% from October to December, 2.8% for full year 2024

LA Times  

Young shoppers look over a row of large-screen televisions on display in a Costco warehouse Dec. 19, 2024, in Denver. The Commerce Department reported Thursday that gross domestic product — the economy’s output of goods and services — expanded at a 2.3% annual rate from October through December. But a category within the GDP data that measures the economy’s underlying …

The US economy just had another robust year
1 month, 4 weeks ago

The US economy just had another robust year

CNN  

Washington CNN — Another year of robust economic growth is in the books, underscoring how the Biden administration handed President Donald Trump what many consider a solid economy. “The US consumer has been unstoppable, supported by wealth creation, a strong labor market, and lending.” The latest GDP report comes on the heels of the Federal Reserve’s latest policy decision announced …

U.S. consumer spending rises in November; monthly inflation subsides
3 months ago

U.S. consumer spending rises in November; monthly inflation subsides

The Hindu  

U.S. consumer spending increased in November, underscoring the economy's enduring strength, which prompted the Federal Reserve this week to project fewer interest rate cuts in 2025 than it had three months ago. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, rose 0.4% last month after a downwardly revised 0.3% gain in October, the Commerce Department's Bureau …

US Economy Expands 2.8% In Q3, Driven By Strong Consumer Spending
4 months ago

US Economy Expands 2.8% In Q3, Driven By Strong Consumer Spending

ABP News  

The US economy grew at a robust annual rate of 2.8 per cent from July to September, driven by solid consumer spending and a surge in exports, the government reported on Wednesday. Consumer spending, which drives about 70 per cent of US economic activity, accelerated to a 3.5 per cent annual rate in the third quarter, up from 2.8 per …

US Q3 GDP data: US economy grows 2.8% YoY in third quarter on steady consumer spending
4 months ago

US Q3 GDP data: US economy grows 2.8% YoY in third quarter on steady consumer spending

Live Mint  

The US economy expanded steadily in the third quarter, largely powered by a broad-based advance in consumer spending and steady business investment. Gross domestic product increased at a 2.8 percent annualized pace in the third quarter, the second estimate of the Bureau of Economic Analysis figures showed Wednesday. The government’s other main gauge of economic activity — gross domestic income …

US economy grows at 2.8% pace in third quarter on consumer spending, unchanged from first estimate
Trending News
4 months ago

US economy grows at 2.8% pace in third quarter on consumer spending, unchanged from first estimate

Associated Press  

WASHINGTON — The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of third-quarter growth. Still, American voters — exasperated by high prices — were unimpressed by the steady growth and chose this month to return Donald Trump …

US wholesale inflation picks up slightly in sign that some price pressures remain elevated
4 months, 1 week ago

US wholesale inflation picks up slightly in sign that some price pressures remain elevated

Associated Press  

WASHINGTON — Wholesale prices in the United States rose last month, remaining low but suggesting that the American economy has yet to completely vanquish inflationary pressure. Thursday’s report from the Labor Department showed that its producer price index — which tracks inflation before it hits consumers — rose 0.2% from September to October, up from a 0.1% gain the month …

America’s economy explains a lot about why Trump got reelected
4 months, 3 weeks ago

America’s economy explains a lot about why Trump got reelected

CNN  

CNN — Donald Trump’s decisive election victory was about many things: a global rejection of incumbents, a rise in the Republican electorate and a battle for the future of America’s democracy. Why the US economy stings so much Housing: America’s home prices have reached new record highs for 15 straight months. That’s a healthy pace by any measure, and it’s …

U.S. Economy Grew At Healthy 2.8% Pace Last Quarter On Strength Of Consumer Spending
4 months, 3 weeks ago

U.S. Economy Grew At Healthy 2.8% Pace Last Quarter On Strength Of Consumer Spending

Huff Post  

LOADING ERROR LOADING 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 — slowed slightly from its 3% growth rate in …

US economy is believed to have grown at a solid pace again last quarter
4 months, 4 weeks ago

US economy is believed to have grown at a solid pace again last quarter

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Powered by consumer spending, the …

The U.S. economy is growing solidly. Here's what's working — and what's not
4 months, 4 weeks ago

The U.S. economy is growing solidly. Here's what's working — and what's not

NPR  

The U.S. economy is growing solidly. Here's what's working — and what's not toggle caption Spencer Platt/Getty Images With just days before Election Day, the U.S. just got its latest economic report card — and it's good, even if many people don't feel that way. toggle caption Anna Rose Layden/Getty Images The healthy labor market and stronger spending bode well …

US inflation falls to 2.5% in August, reaches 3-year low as Federal Reserve set to cut interest rates
6 months, 2 weeks ago

US inflation falls to 2.5% in August, reaches 3-year low as Federal Reserve set to cut interest rates

Hindustan Times  

The post-pandemic spike in U.S. inflation eased further last month as year-over-year price increases reached a three-year low, clearing the way for the Federal Reserve to cut interest rates next week. Excluding volatile food and energy costs, so-called core prices rose 3.2% in August from a year ago, the same as in July. A key reason for last month's drop …

U.S. inflation reaches a 3-year low as Federal Reserve prepares to cut interest rates
6 months, 2 weeks ago

U.S. inflation reaches a 3-year low as Federal Reserve prepares to cut interest rates

LA Times  

Wednesday’s report from the Labor Department showed that consumer prices rose 2.5% in August from a year earlier, down from 2.9% in July. The post-pandemic spike in U.S. inflation eased further last month as year-over-year price increases reached a three-year low, clearing the way for the Federal Reserve to cut interest rates next week. Excluding volatile food and energy costs, …

Something is happening to the US economy only seen once before
8 months ago

Something is happening to the US economy only seen once before

Daily Mail  

The US economy accelerated last quarter, with consumers and businesses increasing their spending despite the continual pressure of high interest rates. GDP rose at an annual rate of 2.8 percent for the quarter from April through June 2024 The GDP report showed that businesses are continuing to invest and household spending remains strong. Alongside the growth of the economy, inflation …

US economy rebounds with 2.8% GDP growth in Q2; price pressures easing
8 months ago

US economy rebounds with 2.8% GDP growth in Q2; price pressures easing

Business Standard  

The US economy grew faster than expected in the second quarter amid solid gains in consumer spending and business investment, but inflation pressures subsided, leaving intact expectations of a September interest rate cut from the Federal Reserve. Consumer spending, which accounts for more than two-thirds of the economy, increased at around a 2.3 per cent rate after slowing to a …

U.S. Economic Growth Increased Last Quarter To A Healthy 2.8% Annual Rate
8 months ago

U.S. Economic Growth Increased Last Quarter To A Healthy 2.8% Annual Rate

Huff Post  

LOADING ERROR LOADING WASHINGTON — The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates. The central bank’s favored inflation gauge rose at a 2.6% annual rate last quarter, down from 3.4% in the first quarter of the year. Despite last quarter’s uptick, …

US economic growth increased last quarter to a healthy 2.8% annual rate
8 months ago

US economic growth increased last quarter to a healthy 2.8% annual rate

Associated Press  

WASHINGTON — The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates. The central bank’s favored inflation gauge rose at a 2.6% annual rate last quarter, down from 3.4% in the first quarter of the year. the Fed thinks that it’s getting close …

U.S. economic growth increased last quarter to a healthy 2.8% annual rate
8 months ago

U.S. economic growth increased last quarter to a healthy 2.8% annual rate

LA Times  

Amazon employees in South Gate load packages on carts before putting them on trucks for delivery last week as part of the company’s Prime Day event. The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates. The central bank’s favored inflation gauge rose …

US economy posts 2.8 percent growth in April-June quarter
8 months ago

US economy posts 2.8 percent growth in April-June quarter

New Indian Express  

The US economy, despite high interest rates, grew at 2.8 percent in the second quarter -- double the rate of 1.4 percent that it saw in the January-March period. After a slow start this year, the world's biggest economy grew at an annual rate of 2.8 percent in the April to June period, up from 1.4 percent in the first …

US economic growth for last quarter is revised up slightly to a 1.4% annual rate
9 months ago

US economic growth for last quarter is revised up slightly to a 1.4% annual rate

Associated Press  

WASHINGTON — The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, the government said Thursday in a slight upgrade from its previous estimate. The Commerce Department had previously estimated that the gross domestic product — the economy’s total output of goods and services — advanced at a 1.3% rate …

US economic growth last quarter revised down from 1.6% to 1.3%, inflation cools
9 months, 3 weeks ago

US economic growth last quarter revised down from 1.6% to 1.3%, inflation cools

Hindustan Times  

The U.S. economy grew more slowly in the first quarter than previously estimated after downward revisions to consumer and equipment spending and a key measure of inflation ticked down, keeping the Federal Reserve on track to possibly begin cutting interest rates before the end of the year. Details of the report showed that consumer spending growth, revised down by 0.5 …

US economic growth last quarter is revised down from 1.6% rate to 1.3%, but consumers kept spending
9 months, 3 weeks ago

US economic growth last quarter is revised down from 1.6% rate to 1.3%, but consumers kept spending

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The Commerce Department had previously estimated that the nation’s …

U.K. exits recession with better-than-expected 0.6% GDP growth
10 months, 2 weeks ago

U.K. exits recession with better-than-expected 0.6% GDP growth

The Hindu  

The data will be welcome news for Prime Minister Rishi Sunak who said the economy had “turned a corner” Britain's economy grew by the most in nearly three years in the first quarter of 2024, ending the shallow recession it entered in the second half of last year and delivering a boost to Prime Minister Rishi Sunak ahead of an …

Keep cautious eye on risk of safe-haven funds
10 months, 4 weeks ago

Keep cautious eye on risk of safe-haven funds

China Daily  

CAI MENG/CHINA DAILY The latest data released by the US government shows that the GDP of the United States for the first quarter of the year increased at an annualized rate of 1.6 percent, lower than the expected 2.4 percent and significantly slower than the 3.4 percent growth rate in the fourth quarter of last year. In the first quarter, …

US economic growth in first quarter falls short of expectations at 1.6%; inflation may heat up
11 months ago

US economic growth in first quarter falls short of expectations at 1.6%; inflation may heat up

Hindustan Times  

The US economy expanded less than projected in the first three months of 2024 as exports and consumer spending declined, confirming the expectations of the financial markets that the Federal Reserve would postpone rate-cutting until September. The first quarter saw the US economy rise by 1.6 percent, according to the government data. The first quarter saw the world's largest economy …

US growth slowed sharply last quarter to 1.6% pace, reflecting an economy pressured by high rates
11 months ago

US growth slowed sharply last quarter to 1.6% pace, reflecting an economy pressured by high rates

Associated Press  

WASHINGTON — The nation’s economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers — the main driver of economic growth — kept spending at a solid pace. Gregory Daco, chief economist at the tax and consulting firm EY, noted that the underlying economy looks solid, though it’s slowing from last …

U.S. growth fell sharply to 1.6% last quarter, pressured by high interest rates
11 months ago

U.S. growth fell sharply to 1.6% last quarter, pressured by high interest rates

LA Times  

Robots assemble solar panels at the Hanwha Qcells Solar plant in Dalton, Ga., in 2023. On Thursday, the government reported that U.S. economic growth slowed sharply last quarter to a 1.6% annual pace. The nation’s economy slowed sharply last quarter to a 1.6% annual pace in the face of high interest rates, but consumers — the main driver of economic …

China’s economy beats expectations, growing 5.3 percent in first quarter
11 months, 1 week ago

China’s economy beats expectations, growing 5.3 percent in first quarter

Al Jazeera  

Statistics agency says economy has made ‘good start’ to the year under the leadership of Chinese President Xi Jinping. China’s economy grew faster than expected in the first three months of the year, a boost for policymakers grappling with a property-sector crisis, weak consumer demand and mounting government debt. The NBS said in a statement that the economy had made …

US economic growth for last quarter is revised up slightly to a healthy 3.4% annual rate
11 months, 3 weeks ago

US economic growth for last quarter is revised up slightly to a healthy 3.4% annual rate

Associated Press  

WASHINGTON — The U.S. economy grew at a solid 3.4% annual pace from October through December, the government said Thursday in an upgrade from its previous estimate. But last quarter’s growth was still a solid performance, coming in the face of higher interest rates and powered by growing consumer spending, exports and business investment in buildings and software. In the …

US economy grew solid 3.2% in fourth quarter, a slight downgrade from government’s initial estimate
1 year ago

US economy grew solid 3.2% in fourth quarter, a slight downgrade from government’s initial estimate

Associated Press  

WASHINGTON — The U.S. economy grew at a robust 3.2% annual pace from October through December, propelled by healthy consumer spending, the Commerce Department reported Wednesday in a slight downgrade from its initial estimate. U.S. growth has now topped 2% for six straight quarters, defying fears that high interest rates would tip the world’s largest economy into a recession. The …

US economy grew solid 3.2% in fourth quarter, a slight downgrade from government's initial estimate
1 year ago

US economy grew solid 3.2% in fourth quarter, a slight downgrade from government's initial estimate

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The U.S. economy grew at …

Recession has struck some of the world’s top economies. The US keeps defying expectations
1 year, 1 month ago

Recession has struck some of the world’s top economies. The US keeps defying expectations

Associated Press  

NEW YORK — As some of the world’s biggest economies stumble into recession, the United States keeps chugging along. Yet in the United States, the economy motored ahead in last year’s fourth quarter for a sixth straight quarter of growth. It’s blown past many predictions coming into last year that a recession seemed inevitable because of high interest rates meant …

Report: US economy grew faster than any other G7 country last year
1 year, 1 month ago

Report: US economy grew faster than any other G7 country last year

Daily Mail  

America's economy is growing at a faster pace than any other G7 country in part thanks to a post-pandemic productivity boom, experts say. The IMF World Economic Outlook report estimates the US economy grew by 2.5 percent in 2023 - and is set for a similar 2.1 percent growth in 2024. Figures released today show US worker productivity grew at …

US economy sees remarkable growth at 3.3% in fourth quarter than expected
1 year, 2 months ago

US economy sees remarkable growth at 3.3% in fourth quarter than expected

Hindustan Times  

The US economy remained startlingly sound in the fourth quarter to finish out a remarkably great 2023 as individuals and businesses continued to spend freely, despite high interest rates and price levels that have annoyed many households. The most recent data highlighted the surprisingly resilient nature of the largest economy in the world, with GDP growing at an annual rate …

US economy grew by 3.3% over the past year - ending fears of recession and sending the S&P and Dow up
1 year, 2 months ago

US economy grew by 3.3% over the past year - ending fears of recession and sending the S&P and Dow up

Daily Mail  

Consumers and businesses have continued to spend despite high interest rates The US economy grew much faster than expected in the final three months of last year, trouncing expectations as consumers and businesses continued to spend. The US economy grew much faster than expected in the final three months of last year, trouncing expectations as consumers and businesses continued to …

US economy grew at a surprisingly strong 3.3% pace last quarter, pointing to continued resilience
1 year, 2 months ago

US economy grew at a surprisingly strong 3.3% pace last quarter, pointing to continued resilience

Associated Press  

WASHINGTON — The nation’s economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday’s report from the Commerce Department said the gross domestic product — the economy’s total output of goods and services — decelerated …

US growth likely slowed last quarter but still pointed to a resilient economy
1 year, 2 months ago

US growth likely slowed last quarter but still pointed to a resilient economy

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The nation's economy was supposed …

Economic growth continues, as latest GDP data shows strong 3.3% pace last quarter
1 year, 2 months ago

Economic growth continues, as latest GDP data shows strong 3.3% pace last quarter

CBS News  

The nation's economy grew at an unexpectedly brisk 3.3% annual pace from October through December as Americans showed a continued willingness to spend freely despite high interest rates and price levels that have frustrated many households. Thursday's report from the Commerce Department said the gross domestic product — the economy's total output of goods and services — decelerated from its …

Federal Reserve’s favored inflation gauge tumbles in November as prices continue to ease
1 year, 3 months ago

Federal Reserve’s favored inflation gauge tumbles in November as prices continue to ease

Associated Press  

WASHINGTON — The Federal Reserve’s preferred measure of prices fell last month, another sign that inflation is easing and that Americans should benefit from reduced interest rates and get relief from painful price shocks in 2024. Friday’s report from the Commerce Department showed that U.S. consumer prices slid 0.1% last month from October and rose 2.6% from November 2022. Excluding …

US economic growth for last quarter is revised up to a 5.2% annual rate
1 year, 3 months ago

US economic growth for last quarter is revised up to a 5.2% annual rate

Associated Press  

WASHINGTON — Shrugging off higher interest rates, America’s consumers spent enough to help drive the economy to a brisk 5.2% annual pace from July through September, the government reported Wednesday in an upgrade from its previous estimate. Consumer spending, the lifeblood of the economy, rose at a 3.6% annual rate from July through September — still healthy but a downgrade …

US economic growth for last quarter is revised up to a 5.2% annual rate
1 year, 3 months ago

US economic growth for last quarter is revised up to a 5.2% annual rate

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Shrugging off higher interest rates, …

Focus still on evolution of inflation in the US
1 year, 3 months ago

Focus still on evolution of inflation in the US

China Daily  

Customers shop at a Costco store in Foster City, the United States, Jan 12, 2023. The overall judgment set out in the recently released minutes of the meeting of the Federal Open Market Committee, held on Oct 31 and Nov 1, is that the employment, inflation and economic growth data of the United States now all support the decision that …

US consumers keep spending briskly even in the face of persistent inflation and high interest rates
1 year, 5 months ago

US consumers keep spending briskly even in the face of persistent inflation and high interest rates

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy An inflation gauge that is …

Discover Related