Home Market News U.S. Economy Projected to Experience Strong Growth in Q3 Amid Resilient Consumer Spending

U.S. Economy Projected to Experience Strong Growth in Q3 Amid Resilient Consumer Spending

0
U.S. Economy Projected to Experience Strong Growth in Q3 Amid Resilient Consumer Spending

The U.S. economy is anticipated to have experienced robust growth in the third quarter, primarily driven by the resilience of consumer spending. However, economists are predicting a potential slowdown in the near future due to rising interest rates.

The Commerce Department is set to release its advance GDP estimate on Thursday at 8:30 am ET, and it is expected to reveal a 4.2% increase in gross domestic product during Q3. This growth rate is double the 2.1% pace observed in the second quarter