US Politics

US Economy Expands 3.1 Percent in 3rd Quarter, Fueled by Consumer Spending, Exports

Upward revisions to consumer spending and exports lift the third-quarter GDP growth rate.
US Economy Expands 3.1 Percent in 3rd Quarter, Fueled by Consumer Spending, Exports
People shop on Black Friday at a mall in Hanover, Md., on Nov. 29, 2024. Madalina Vasiliu/The Epoch Times
Andrew Moran
|Updated:
0:00

The U.S. economy was stronger than expected in the third quarter as upward revisions to consumer spending and exports bolstered the July–September gross domestic product (GDP) growth rate.

According to the final estimate from the Bureau of Economic Analysis (BEA), the third-quarter GDP increased by 3.1 percent, higher than the initial projections of 2.8 percent.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."