US GDP Grows At 4.3% In Q3, Economy Expands At A Faster Clip Than Wall Street Estimates
Synopsis
Compared to Q2, the acceleration in real GDP in the third quarter reflected a smaller decrease in investment, an acceleration in consumer spending, and an upturn in exports and government spending, the BEA stated.
The United States’ gross domestic product (GDP) for the third quarter (Q3) grew at a faster pace than expected, driven by consumer spending, exports, and government spending.
The Bureau of Economic Analysis reported that the U.S. economy grew at an annualized rate of 4.3%, higher than the Dow Jones forecast of 3.2%, as cited by MarketWatch.
The second-quarter (Q2) GDP growth estimate was revised upward to an annualized rate of 3.8%, according to a September BEA report.
Compared to Q2, the acceleration in real GDP in the third quarter reflected a smaller decrease in investment, an acceleration in consumer spending, and an upturn in exports and government spending, the BEA stated.
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