Reported 11 days ago
The U.S. economy grew faster than previously estimated in the third quarter, with a revised annual growth rate of 3.1%, driven by strong consumer spending. This is an increase from the earlier estimate of 2.8%. The growth was attributed to upgrades in consumer spending and exports, despite a reduction in private inventory investment. Federal Reserve officials noted the economy's resilience and delivered a modest rate cut, while concerns about inflationary impacts of upcoming policies remain.
Source: YAHOO