{
  "id": 17086902,
  "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-17086902",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-29T16:27:02.000Z",
  "source": {
    "name": "The Korea Times",
    "slug": "the-korea-times-koreatimes",
    "url": "https://www.koreatimes.co.kr/world/20261030/robust-consumer-spending-ai-related-investment-power-us-economy-in-third-quarter"
  },
  "original_language": "en",
  "account": "In the third quarter of 2022, the U.S. economy experienced its most robust growth in a year, despite the impact of higher oil prices resulting from the conflict in the Middle East. This impressive expansion, attributed to consumer spending and increased investment in artificial intelligence by businesses, contrasted with the unfavorable perception of the economy among consumers, as evidenced by President Donald Trump's historically low approval ratings and the decline in consumer sentiment.\n\nThe Commerce Department's announcement of the stronger-than-anticipated growth in gross domestic product (GDP) revealed a promising economic outlook, even as it approached the midterm elections on Tuesday. The report's release came just a week before the pivotal congressional event, which would determine the control of the U.S. Congress.\n\nEconomists were quick to highlight the significance of this growth, as well as recent data showing rising inflation and its spread in September. These factors combined, according to the experts, supported the case for the Federal Reserve to raise interest rates in December. The central bank, in a Wednesday statement, maintained its benchmark interest rate within the 3.75 percent-4.00 percent range, acknowledging that inflation was still a concern.",
  "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": [],
  "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."
}