According to Jin Ten Data, the US economy expanded at a faster pace in the third quarter than previously estimated, with the final value of annualized quarterly GDP at 3.1%, above the predicted 2.8%.
The final value of real personal consumption expenditures for the third quarter rose to 3.7%, indicating stronger consumer spending and exports.
Despite market expectations of a slowdown in the US economy, data suggests 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 triggered a sell-off in the stock market.