Wednesday's report is the first of three estimates the government will make of GDP growth for the third quarter of the year.The U.S.economy, the world's biggest, has shown surprising resilience in the face of the much higher borrowing rates the Federal Reserve imposed in 2022 and 2023 in its drive to curb inflation.
The Commerce Department is expected to report Wednesday that the gross domestic product the economy's total output of goods and services grew at a 2.6% annual pace last quarter, according to a survey of forecasters by the data firm FactSet.
Powered by consumer spending, the U.S.economy likely kept expanding at a healthy pace from July through September despite the pressure of still-high interest rates.
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