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flag U.S. economy exceeds expectations with 3.1% growth, fueled by strong consumer spending and exports.

flag The U.S. economy grew at a 3.1% annual rate in the third quarter, surpassing initial estimates, driven by robust consumer spending and increased exports. flag Consumer spending rose 3.7%, the fastest rate since early 2023, while exports climbed 9.6%. flag Business investment grew modestly by 0.8%, with equipment investment up 10.8%. flag Federal government spending and defense spending also increased significantly. flag Despite these gains, unemployment claims remained low, and the Federal Reserve cut interest rates for the third time this year.

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