The U.S. economy grew at a 2.8% annual rate from July to September, led by strong consumer spending.

From July to September, the U.S. economy grew at an annual rate of 2.8%, driven mainly by a significant increase in consumer spending, which rose to a 3.7% pace. While this growth is slightly lower than the previous quarter's 3%, it reflects resilience amid high interest rates. The Federal Reserve's preferred inflation gauge increased by 1.5%, the lowest in over four years. The Fed is anticipated to announce another rate cut to ease borrowing costs.

November 03, 2024
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