According to Jinshi Data, the U.S. economic expansion rate in the third quarter was higher than previously estimated, with the final value of the real GDP annualized quarterly rate being 3.1%, higher than the forecast of 2.8%.
The final reading of the quarterly rate of real personal consumption expenditures in the third quarter rose to 3.7%, indicating stronger consumer spending and exports.
Although the market expects the U.S. economy to slow, data shows that the economy is still growing strongly. The Federal Reserve hinted that the pace of interest rate cuts will slow in 2025, and recent stronger-than-expected economic data has triggered a stock market sell-off.