US GDP beats expectations at 4.9% in Q3

Up from 2.1% in Q2

US GDP rose by an annualised rate of 4.9% in the third quarter of this year, surpassing analyst expectations of 4.3%.

Its highest quarterly rate since 2021, GDP grew across the board, with a 4.8% growth in goods spending and 3.6% growth in service spending, according to data from the Bureau of Economic Analysis. The only sector that witnessed a decrease was non-residential fixed investment (0.1% fall), largely due to a 3.8% drop in equipment spending. ECB meets expectations as rates held at 4% The jump from 2.1% last quarter has left the US economy "flying high", according to Neil Birrell, CIO of Premier Miton Investors. "The data we are seeing will be giving the Fed plenty to think about when ...