U.S. third-quarter economic growth comes in at 3.4%, beating market expectations

TechFlow news, Oct. 29: The advance estimate for the U.S. third-quarter real GDP annualized quarterly rate came in at 3.4%, a sharp acceleration from 2.2% in the previous quarter, versus market expectations of 3.2%. The AI investment boom continues to drive economic growth. Since the start of this year, U.S. companies have invested heavily in AI data centers and high-tech equipment, providing important support for economic growth. Despite persistent inflationary pressures, consumer spending has remained strong.

Federal Reserve Chair Warsh said on Wednesday that economic growth momentum has strengthened, adding that consumer spending has remained solid and capital spending as a share of GDP is at a historic high. U.S. President Trump said the U.S. economy is 'the hottest economy in the world'. The U.S. economy has continued to outpace other G7 member countries. (Jin10)

Source: TechFlow