The U.S. economy posted stunning growth in the third quarter — but it may not last

|

October 26th, 2023

Shoppers look over blankets on sale in a Costco warehouse on Aug. 24, 2023, in Sheridan, Colo. On Thursday, the Commerce Department issued its first of three estimates of how the U.S. economy performed in the third quarter of 2023. (AP Photo/David Zalubowski, File)

The economy roared over the late summer and early fall as Americans went on a strong spending binge.

Data on Thursday showed gross domestic product (GDP) grew at an annual pace of 4.9% in July, August and September. That’s more than twice as fast as the previous quarter.

It was the highest quarter of growth rate since the last three months of 2021.

Related

Top Stories