The United States gross domestic product expanded at an annualized rate of 3.4 percent in the third quarter, marking its fastest pace in a year. The growth was primarily driven by strong consumer spending and enterprise investments from AI companies.
U.S. GDP Expands 3.4% in Third Quarter Powered by AI and Consumer Spending
Third-quarter U.S. gross domestic product expanded by a better-than-expected 3.4%. Meanwhile, the personal consumption expenditures price index was projected to rise 0.5% in September for an annual rate of 3.7%.
The U.S. economy expanded at its fastest pace in a year during the third quarter. The 3.4% growth rate was driven by strong business investment and resilient consumer spending.
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