U.S. Q3 GDP Grows 3.4%, Exceeding Market Expectations
U.S. economic growth in the third quarter of this year exceeded market expectations.
The U.S. Department of Commerce said on October 29 (local time) that gross domestic product (GDP) grew at an annualized rate of 3.4% quarter over quarter in the third quarter of this year.
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This exceeded the market forecast of 3.1% and was also up from the 2.2% growth rate in the second quarter. The department said increases in investment, consumer spending, and government spending supported growth in the U.S. economy.
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