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US economy grows by 2.8pc in 3Q, led by consumers
The US economy grew by an annualized 2.8pc in the third quarter, led by consumer and government spending and exports. Gross domestic product (GDP) growth slowed from 3pc in the second quarter, the Commerce Department reported today. Personal consumption grew at a 3.7pc pace, up from 2.8pc in the second quarter and 3.5pc a year earlier. Today's GDP estimate is the first of three for the quarter, and comes in slightly below analyst estimates in a Trading Economics survey of 3pc growth. The latest figure marks a 10th quarter of GDP growth since a 1pc contraction in the first quarter of 2022. It comes ahead of a closely ... (full story)