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US Economy Grows at 4.4% in Q3, Fastest Pace in Two Years
US Economy Grows at 4.4% in Q3, Fastest Pace in Two Years
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BTCCSquare news:
The US economy expanded at an annualized rate of 4.4% in the third quarter, marking its strongest growth in two years. Consumer spending, accounting for 70% of GDP, ROSE 3.5%, with services outpacing goods. A surge in exports and declining imports further bolstered the figures.
Equity markets reacted positively, with the S&P 500 and Nasdaq 100 climbing post-announcement. Tech stocks like TSLA and Nvidia saw modest gains. Business investment grew 3.2%, partially driven by AI-related bets.
Despite robust GDP figures, the labor market shows weakness—averaging just 28,000 monthly job additions since March. AI displacement concerns are mounting, with economists warning of structural workforce challenges.
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