{
  "id": 17083298,
  "title": "Robust consumer spending, AI-related investment power US economy in third quarter",
  "url": "https://urgent.news/2026/10/29/robust-consumer-spending-ai-related-investment-power-us-economy-in",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-29T15:57:02.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times",
    "url": "https://www.koreatimes.co.kr/world/20261030/robust-consumer-spending-ai-related-investment-power-us-economy-in-third-quarter"
  },
  "original_language": "en",
  "account": "The United States economy expanded at its fastest pace in over a year during the third quarter, despite surging oil prices due to Middle Eastern conflicts, according to a Commerce Department report released on Thursday. The robust growth, driven by strong consumer spending and increased investment in artificial intelligence, stood in stark contrast to President Donald Trump's low approval ratings and declining consumer sentiment.\n\nThe advance GDP report came just a week before the midterm elections, which will determine control of Congress. Economists argued that the impressive growth, coupled with other data released on Thursday indicating accelerating and broadening inflation in September, supported the case for the Federal Reserve to raise interest rates in December. On Wednesday, the U.S. central bank maintained its benchmark overnight interest rate within the 3.75 percent-4.00 percent range but acknowledged that inflation remained elevated.",
  "summary": "WASHINGTON — The U.S. economy grew at its fastest pace in a year in the third quarter, shrugging off higher oil prices stemming from the conflict in the Middle East as consumers maintained robust spending and businesses doubled down on investment in AI. The better-than-expected increase in gross domestic product last quarter reported by the Commerce Department on Thursday was in stark contrast to…",
  "key_points": [
    "US economy grew 2.6% Q3, fastest in over a year",
    "Consumer spending and AI investment drove expansion",
    "Fed may raise rates in Dec amid high inflation"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 4,
    "also_reported_by": [
      {
        "outlet": "Business Standard IN",
        "title": "US economy expands 3.4% in Q3 as consumer spending, AI investment rise",
        "url": "https://urgent.news/2026/10/29/us-economy-expands-3-4-in-q3-as-consumer-spending-ai-investment-rise",
        "published": "2026-10-29T15:02:34.000Z"
      },
      {
        "outlet": "PBS NewsHour",
        "title": "U.S. economy grows at brisk 3.4% pace in third quarter on strong consumer spending and AI investment",
        "url": "https://urgent.news/2026/10/29/u-s-economy-grows-at-brisk-3-4-pace-in-third-quarter-on-strong",
        "published": "2026-10-29T15:48:27.000Z"
      },
      {
        "outlet": "Gulf Times Business",
        "title": "Robust consumer spending, AI-related investment power US economy in third quarter",
        "url": "https://urgent.news/2026/10/29/robust-consumer-spending-ai-related-investment-power-us-economy-in-17090768",
        "published": "2026-10-29T16:23:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}