US Economic Growth Revised Higher than Expected in Third Quarter
- brg_news_room
- 6 days ago
- 1 min read
US: The US economy expanded at a faster pace than previously estimated in the third quarter, with gross domestic product revised up to a 4.4% annualised rate, according to updated data from the Bureau of Economic Analysis. The revised figure marked the strongest quarterly growth since the third quarter of 2023, compared with 3.8% growth in the second quarter. The upward revision reflected stronger exports and business investment, while higher imports partially offset gains. Consumer spending remained a key contributor, rising at a 3.5% rate and accounting for more than two-thirds of overall economic activity.
Underlying domestic demand showed some moderation, with final sales to private domestic purchasers increasing at a 2.9% rate, slightly below the earlier estimate. Economists noted uneven growth patterns across income groups and businesses, with higher-income households and large corporations absorbing cost pressures more effectively. Corporate profits from current production increased at an annualised rate of US$175.6 billion in the third quarter, revised up by US$9.5 billion.
Source: Reuters
