U.S. Economy Defies Forecasts with Strong Growth

The U.S. economy showcased robust growth in the third quarter, driven by strong consumer spending and business investments. Despite high interest rates, the economy outperformed global counterparts. Inflation slowed, easing pressure on households. With elections approaching, economic health remains a key concern for Americans.

The United States economy demonstrated substantial resilience in the third quarter, contradicting predictions of economic decline. This growth was primarily supported by enhanced consumer spending, marking its swiftest rate in over a year and substantial business investment in equipment.

Despite significant interest rate hikes by the Federal Reserve, aimed at curbing inflation, the economy sustained its momentum. The growth occurred as the nation prepares for another pivotal presidential election on November 5, underscoring the economy as a primary voter concern amid high living costs.

In a broader economic analysis, adjustments to previous GDP estimates further highlighted a stronger than initially perceived economic landscape. Meanwhile, inflation is reported to be decreasing towards the Federal Reserve's target, further solidifying the notion of a resilient U.S. economy.

(With inputs from agencies.)