US economy grew at a solid 2.8% pace last quarter on strength of consumer spending

Quick Summary:

The US economy grew at an annual rate of 2.8% from July to September, driven by strong consumer spending despite high interest rates.

The Federal Reserve's favored inflation gauge dropped to its lowest in four years.

The GDP data signals a resilient economy with moderating inflation, benefiting the central bank's policies.

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Article Details

Author / Journalist: AP

Category: EconomyBusiness

Markets: IndiaChinaIsraelMaliUnited States

Topics: Consumer spending Interest rates Federal Reserve GDP growth Inflation US economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 21:27:46 (1 days ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 1080 words

Reading Time: 6 minutes read

Sentences: 41 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 23340438

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About Times of India

Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

Update Frequency: 17 posts per day

Year Established: 1838

Headquarters: India

News Last Updated: 6 hours ago

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Publisher ID: #28

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