Economic data
US economy grows faster than expected 3.4% in 3Q, driven by consumers, AI investment
The US economy grew faster than expected in the third quarter as resilient consumer spending and AI-driven business investment more than offset the impact of higher oil prices stemming from the conflict in the Middle East. Gross domestic product increased at a 3.4 per cent annualised rate last quarter, the Commerce Department’s Bureau of Economic Analysis said in its advance estimate of third-quarter GDP on Thursday. Economists polled by Reuters had forecast GDP advancing at a 3.2 per cent...
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