{
  "id": 17238521,
  "title": "A 3.4% GDP print hides a ‘haunted’ housing market and a September stall in the economy",
  "url": "https://urgent.news/2026/10/30/a-3-4-gdp-print-hides-a-haunted-housing-market-and-a-september-stall",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-30T14:22:34.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/10/30/gdp-third-quarter-haunted-housing-market-ai-spending-september-stall/"
  },
  "original_language": "en",
  "account": "The U.S. economy expanded by 3.4% in the third quarter, according to the Bureau of Economic Analysis. While consumer spending surged by 3.8%, housing investment declined by 3.3%, contributing to a complex picture of growth. Goldman Sachs economists highlighted that much of the increase stemmed from specific sectors, including AI-related equipment, which surged 37.4%, and industrial equipment, which rose by 24.7%. However, the data also revealed that inventory additions accounted for nearly half of the GDP gain, suggesting a potential slowdown in future growth. The housing market, described by some as \"haunted,\" saw a sharp decline in buyer traffic and a decreasing homeownership rate, particularly among younger generations. The National Association of Home Builders' gauge of buyer traffic fell to 18 in early October, its lowest in nearly 15 years. Goldman Sachs forecasts housing investment to drop by 5.0% in the fourth quarter, while business investment driven by AI is expected to increase by 8.2%. Despite these challenges, the labor market remains robust, with the four-week average of initial jobless claims falling to 197,000, the lowest since 1969. However, the Federal Reserve is expected to maintain interest rates, with the 30-year fixed rate mortgage currently at 7.32%, higher than historical averages. Goldman Sachs expects the impact of the AI boom to wane in the coming quarters, potentially slowing consumer spending growth.",
  "summary": "AI equipment spending rose 37.4% in the third quarter while housing investment fell 3.3%, and real consumer spending stalled in September.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "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."
}