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Consumer spending pushes US economy up 4.4 per cent in third quarter, fastest in two years
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....onsumer spending pushes US economy up 4.4 per cent in third quarter, fastest in two years<BR>Customs & Trade<BR>Dated:- 22-1-2026<BR>PTI<BR>Washington, Jan 22 (AP) Powered by strong consumer spending, the US economy grew at the fastest pace in two years from July through September, the government said Thursday in a slight upgrade of its first estimate. America's gross domestic product — the nat....
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....ion's output of goods and services — rose at a 4.4 per cent annual pace in the third quarter, the Commerce Department reported Thursday, up from 3.8 per cent in the April-June quarter and from the 4.3 per cent growth the department initially estimated. The economy hasn't grown faster since third-quarter 2023. Consumer spending, which accounts for 70 per cent of US GDP, grew at a healthy 3.5 per....
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.... cent pace. A surge in exports and a drop in imports also contributed to robust third-quarter growth. The economy has remained resilient despite uncertainty caused by President Donald Trump's policies, particularly his double-digit taxes on imports from almost every country on Earth. Despite the strong growth numbers, many Americans are dissatisfied with the state of the economy and especially t....
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....he high cost of living. The gap between how consumers say they feel and the strong spending numbers might reflect what is known as a “ K-shaped economy ” In that situation, the income of wealthier Americans is on the rise, due to stock market gains and growing investments, while lower-income households struggle with stagnant pay and high prices. The job market also looks a lot weaker than th....
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....e overall economy. Employers have added a lackluster 28,000 jobs a month since March. In the 2021-2023 hiring boom that followed COVID-19 lockdowns, by contrast, they were creating 400,000 jobs a month. Still, the unemployment rate remains low at 4.4 per cent, suggesting a no-hire, no-fire labour market with companies hesitant to bring on new employees but reluctant to let go of the ones they have....
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.....(AP) RD RD<BR> News - Press release - PIB....