GDP Jumps 4.9% as the Economy Speeds Up

MarketWatch (10/26/23) Bartash, Jeffry

The U.S. economy galloped at a 4.9% annual pace in the third quarter—driven by accelerated consumer spending—and defied forecasts of slowdown in growth. The sharp rise in gross domestic product was more than double the rate of growth in the first six months of the year. It also was the biggest increase since 2014 excluding the pandemic years of 2020-2021. Wall Street analysts had anticipated a 4.7% advance in GDP.

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