Breaking News: U.S. Economy Surges Forward Amid Record Spending
The U.S. economy grew at an annual rate of 4.3% in the third quarter, significantly faster than the 3.8% expansion seen in the previous quarter, according to the Commerce Department. This growth was driven by steady consumer spending, particularly on healthcare. The report was released on Tuesday, after being delayed due to the historic government shutdown.
The surge in economic growth comes as Americans continued to spend, despite growing concerns about their finances. The Commerce Department's report highlights the importance of consumer spending in driving the nation's economic activity. This growth is a significant improvement from the early months of 2025, when the U.S. economy actually shrunk at an annual rate of 0.6%.
The latest figures show a cooling of inflation in November, with concerns about affordability gripping Americans. The report's release comes as polling increasingly finds Americans glum on President Trump's handling of the economy. The current economic growth is expected to have a positive impact on the nation's economic prospects, but the full extent of its effects remains to be seen.
This is a developing story, and we will provide updates as more information becomes available. The Commerce Department's report is based on data from July, August, and September, and its impact on the current economic situation is still being assessed.
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