“U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected”
October 26, 2023
“…Gross domestic product, a measure of all goods and services produced in the U.S., rose at a 4.9% annualized pace in the July-through-September period, up from an unrevised 2.1% pace in the second quarter, the Commerce Department reported Thursday.. Economists surveyed by Dow Jones had been looking for a 4.7% acceleration…
Consumer spending, as measured by personal consumption expenditures, increased 4% for the quarter after rising just 0.8% in Q2. Gross private domestic investment surged 8.4% and government spending and investment jumped 4.6%. Spending at the consumer level split fairly evenly between goods and services, with the two measures up 4.8% and 3.6% respectively…”