The American economy showed robust growth in the third quarter of the year, expanding at a healthy 3.1% annual rate from July through September. This growth was primarily driven by strong consumer spending and an increase in exports, according to the latest report from the Commerce Department.
Consumer spending, a key driver of the U.S. economy, grew at a brisk pace of 3.7%, marking the fastest rate since the first quarter of 2023. Additionally, exports saw a significant uptick of 9.6%, contributing to the overall economic expansion.
