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Got to love this! US Economic Growth accelerated to 3.4% in the 3rd quarter - beating estimates from the "experts". Via Yahoo Finance.
U.S. GDP Growth Accelerates to 3.4% in Third Quarter of 2026, Exceeding ForecastsThe U.S. economy expanded faster than economists expected during the third quarter of 2026, according to figures released Thursday by the Commerce Department. Growth was supported by increases in investment, consumer spending and government expenditure, although a decline in exports partially offset those gains.
Real gross domestic product (GDP) increased by 3.4% in the third quarter, compared with growth of 2.2% in the second quarter.
Economists had forecast an expansion of 3.1%, meaning the reported figure exceeded expectations by 0.3 percentage points.
The Commerce Department reported that real GDP growth reached 3.4% during the July-to-September period, compared with 2.2% in the preceding quarter.
The increase represented an acceleration of 1.2 percentage points between the second and third quarters.
The third-quarter result also exceeded economists' consensus forecast of 3.1%.
Real GDP measures the value of goods and services produced in the economy after adjusting for changes in prices.
The latest figures indicated that U.S. economic activity expanded at a faster rate during the third quarter than in the previous three-month period.
Investment Contributes to GDP Expansion
Increased investment was among the factors supporting U.S. economic growth during the third quarter.
The Commerce Department identified higher investment as a contributor to the overall increase in real GDP.
Investment forms part of the calculation of economic output and includes spending associated with business activity and capital formation.
The report did not provide a separate percentage increase for investment in the information released.
Nevertheless, its contribution was one of the factors behind the acceleration in overall economic growth.
Consumer Spending Supports Economic Activity
Consumer spending also increased during the third quarter, contributing to the expansion in U.S. GDP.
Household expenditure is a major component of economic activity, reflecting purchases of goods and services by consumers.
The Commerce Department identified higher consumer spending as one of the principal sources of growth during the reporting period.
The increase contributed to the 3.4% GDP reading, alongside investment and government expenditure.
The report did not specify the individual growth rate for consumer spending.
Via Yahoo Finance.
Update: GDP growth means MORE PIE for EVERYONE: Kudlow
