US economy grows at 2.8% in Q3 on consumer spending, exports surge

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US economy grows at 2.8% in Q3 on consumer spending, exports surge - Business Standard

Quick Summary:

The American economy expanded at a healthy 2.8% annual pace from July through September on strong consumer spending and a surge in exports, the government said Wednesday, leaving unchanged its initial estimate of third-quarter growth.

Still, American voters exasperated by high prices were unimpressed by the steady growth and chose this month to return Donald Trump to the White House to overhaul the nation's economic policies.

The Commerce Department reported that growth in US gross domestic product the economy's output of goods and services slowed from the April-July rate of 3%.