The US economic growth rate in the third quarter exceeded market expectations. Driven by strong consumer spending, the annual GDP growth rate reached 4.3%. Although the current growth rate was higher than expected, economic growth has since slowed down due to rising living costs and the federal government's shutdown impasse. The increase in consumer spending is due in large part to a wave of short-term rush purchases before the EV tax credit policy expires. High-income households continue to drive consumption growth, while low- and middle-income groups face greater pressure on their spending capacity. Economists warn that these trends may cause economic growth to weaken further in the coming quarters.

The US economic growth rate in the third quarter exceeded market expectations. Driven by strong consumer spending, the annual GDP growth rate reached 4.3%. Although the current growth rate was higher than expected, economic growth has since slowed down due to rising living costs and the federal government's shutdown impasse. The increase in consumer spending is due in large part to a wave of short-term rush purchases before the EV tax credit policy expires. High-income households continue to drive consumption growth, while low- and middle-income groups face greater pressure on their spending capacity. Economists warn that these trends may cause economic growth to weaken further in the coming quarters.