Major boost for Trump as America's economy roars back and GDP surges… Despite stubborn inflation and squeezed households
The US economy saw strong economic growth in the third quarter despite headwinds from higher oil prices and the conflict in the Middle East.
The Commerce Department reported that gross domestic product expanded at an annual rate of 3.4 percent in the third quarter period from July to September, beating expectations – and much stronger than the 2.2 percent expansion in the April to June period.
This was the fastest economic growth America has seen in nearly three years, when the economy expanded 3.4 percent in the final quarter of 2023.
Gross domestic product measures the total value of all goods and services produced in the US over the course of one year.
This is a breaking news report, more to follow….
Consumer spending was another bright spot for the US economy in the second quarter.