Reported about 6 hours ago
The US economy exhibited a robust growth of 2.8% in the third quarter of 2024, bolstered primarily by a significant increase in consumer spending, which rose by 3.5%. Despite slight downward revisions in household spending, business investment, particularly in research and development, showed positive adjustments. The GDP figures reflect ongoing economic resilience amid inflation concerns, high borrowing costs, and political uncertainty, particularly with Donald Trump's impending economic agenda. The report also highlighted a marginal rise in corporate profits and stable jobless claims, indicating a mixed but fundamentally strong economic landscape.
Source: YAHOO