US economy grows 3.4% in third quarter, beating forecasts
The gist
US GDP rose at a 3.4% annual rate in the third quarter, above the 3.1% economists expected.
The pickup from 2.2% growth rests on consumer spending and AI investment.
How it unfolded
- Oct 28, 2026Analysts surveyed by Bloomberg anticipated 3.2% annualized Q3 growth, while the Atlanta Fed's GDPNow tracker pegged it at 3.3%.
- Oct 28, 2026Preliminary numbers showed the goods trade deficit widened by $2.8 billion to $134.9 billion in September, the largest gap since March 2025.
- Oct 29, 2026The Commerce Department reported U.S. GDP rose at a 3.4% annual rate in the third quarter, above the 3.1% expected by Wall Street Journal-surveyed economists.