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News Analysis
The U.S. economy may be doing more than weathering recent shocks. A fresh batch of economic data points to broad-based strength.
Gross domestic product expanded at a 3.4 percent annualized rate in the third quarter, topping economists’ expectations and marking a pickup from the previous quarter’s 2.2 percent pace.
Concerns have grown that America’s economic expansion is heavily reliant on the artificial intelligence (AI) boom. However, GDP data indicate growth is being supported by a range of factors beyond technology investment alone.
Last quarter’s growth was supported by ongoing business investment and robust consumer spending on durable and nondurable goods and services. The economy also benefited from private inventory purchases and federal government outlays….
The U.S. economy may be doing more than weathering recent shocks. A fresh batch of economic data points to broad-based strength.
Gross domestic product expanded at a 3.4 percent annualized rate in the third quarter, topping economists’ expectations and marking a pickup from the previous quarter’s 2.2 percent pace.
Concerns have grown that America’s economic expansion is heavily reliant on the artificial intelligence (AI) boom. However, GDP data indicate growth is being supported by a range of factors beyond technology investment alone.
Last quarter’s growth was supported by ongoing business investment and robust consumer spending on durable and nondurable goods and services. The economy also benefited from private inventory purchases and federal government outlays….
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