Newsweek on Nostr: US economy grows 3.1% in Q3 thanks to consumer spending boom ========== The U.S. ...
US economy grows 3.1% in Q3 thanks to consumer spending boom
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The U.S. economy grew at an annualized rate of 3.1% in Q3 2024, driven by a surge in consumer spending (3.7% annual rate) and exports; inflation peaked at 9.1% in 2022 but cooled to 2.7% as of November 2024; Federal government spending increased by 8.9%, with defense expenditures rising by 13.9%; business investment grew by 0.8%, but equipment investment surged by 10.8%; unemployment rose to 4.2% from a low of 3.4%; Federal Reserve Chair Jerome Powell noted the economy avoided recession; Trump's return to the White House raises concerns about inflation and market disruptions; initial estimate for Q4 GDP growth to be released on Jan. 30, 2025.
#UsEconomy #GdpGrowth #ConsumerSpending #Inflation #FederalReserve #Trump #Politics #BusinessInvestment #DefenseSpending #Unemployment
https://www.newsweek.com/us-economy-growth-fastest-pace-q3-2024-2003567
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The U.S. economy grew at an annualized rate of 3.1% in Q3 2024, driven by a surge in consumer spending (3.7% annual rate) and exports; inflation peaked at 9.1% in 2022 but cooled to 2.7% as of November 2024; Federal government spending increased by 8.9%, with defense expenditures rising by 13.9%; business investment grew by 0.8%, but equipment investment surged by 10.8%; unemployment rose to 4.2% from a low of 3.4%; Federal Reserve Chair Jerome Powell noted the economy avoided recession; Trump's return to the White House raises concerns about inflation and market disruptions; initial estimate for Q4 GDP growth to be released on Jan. 30, 2025.
#UsEconomy #GdpGrowth #ConsumerSpending #Inflation #FederalReserve #Trump #Politics #BusinessInvestment #DefenseSpending #Unemployment
https://www.newsweek.com/us-economy-growth-fastest-pace-q3-2024-2003567