Economy grows 2.8% as consumer spending drives expansion
==========
The U.S. economy expanded at a 2.8% annual rate from July to September 2024; driven by consumer spending, which grew at an annualized rate of 3.7%, up from 2.8% in the previous quarter; exports rose by 8.9%; business investment showed mixed results; the PCE index rose by 1.5% annually, the lowest in over four years; core PCE inflation decreased to 2.2%; consumer confidence index saw its largest monthly gain since March 2021; job growth averaged 200,000 jobs per month this year; the Fed cut its benchmark rate by 0.5% last month and is expected to cut by another 0.25% soon; inflation's decline and strong consumer spending create a positive backdrop for policymakers.
#UsEconomy #ConsumerSpending #Inflation #FederalReserve #EconomicGrowth #Exports #JobGrowth #PceIndex #InterestRates #EconomicOutlook
https://www.newsweek.com/economy-grows-2-8-driven-consumer-spending-exports-1977250
Newsweek /
npub1ka…2agq5
2024-10-30 17:40:10
Author Public Key
npub1ka5jtasfg8rfe47ypj4x0a2d70fvaksu0u9z9rku70yc8hmjmu9sz2agq5Published at
2024-10-30 17:40:10Event JSON
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"content": "Economy grows 2.8% as consumer spending drives expansion\n==========\n\nThe U.S. economy expanded at a 2.8% annual rate from July to September 2024; driven by consumer spending, which grew at an annualized rate of 3.7%, up from 2.8% in the previous quarter; exports rose by 8.9%; business investment showed mixed results; the PCE index rose by 1.5% annually, the lowest in over four years; core PCE inflation decreased to 2.2%; consumer confidence index saw its largest monthly gain since March 2021; job growth averaged 200,000 jobs per month this year; the Fed cut its benchmark rate by 0.5% last month and is expected to cut by another 0.25% soon; inflation's decline and strong consumer spending create a positive backdrop for policymakers.\n\n#UsEconomy #ConsumerSpending #Inflation #FederalReserve #EconomicGrowth #Exports #JobGrowth #PceIndex #InterestRates #EconomicOutlook\n\nhttps://www.newsweek.com/economy-grows-2-8-driven-consumer-spending-exports-1977250",
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