Economy grew more than expected in Q3, driven by government spending

From Investing.com: 2024-12-19 12:03:00

The economy grew more than expected in the 3rd quarter, reaching an annualized $23.4 trillion on an adjusted basis. Q3 real GDP grew 3.1%, surpassing previous estimates and slightly below the historical average. Real GDP increased by +2.7% over the last 4 quarters, showing a slowdown from the previous pace of growth. Main contributors to Q3 GDP include consumer spending (80%), business investment (18%), and government spending (28%). Corporate profits for Q3 were slightly below last quarter but still up 6% for the year, reaching +53% above pre-COVID levels. The economy is projected to grow by +3.2% in Q4, with concerns about inflation from tariffs but potential deflationary effects from new economic policies.



Read more at Investing.com: The Economy Grew More than Expected, Helped by Government Spending