US economy posts strong growth, inflation stubbornly high in challenge to Trump
WASHINGTON — The United States posted strong economic growth in the third quarter, but the Fed's preferred inflation gauge also accelerated, the Commerce Department said on Thursday, in a mixed economic bag for U.S. President Donald Trump ahead of key midterm polls next week. Real GDP increased at an annual rate of 3.4 percent in the third quarter, the department's Bureau of Economic Analysis…
The United States economy demonstrated robust growth in the third quarter, according to a report from the Commerce Department. Real Gross Domestic Product (GDP) expanded at an annual rate of 3.4 percent, surpassing market predictions. This growth was driven by surges in investment, consumer spending, and government expenditure, although it was somewhat tempered by a decline in exports.
The Personal Consumption Expenditures (PCE) price index, which serves as the Federal Reserve's preferred inflation indicator, also increased by 3.6 percent year-on-year in September, indicating a persistent issue for President Donald Trump as he prepares for the upcoming midterm elections. With these economic indicators, the President's policies on the economy will likely be a pivotal factor for voters as they decide on the control of Congress in the upcoming election on Tuesday.
Written by urgent.news from The Korea Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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