US Q3 GDP Growth Surges to 4.3%, Beats Forecasts
According to Donald Trump, strong consumption, higher net exports, reduced trade deficit, and favorable policies drove the US Q3 GDP growth beyond expectations.
Summary
The US economy expanded at a 4.3% annualized rate in Q3 2024, surpassing the forecast of 3.2% and outperforming Q2’s 3.8% growth. Donald Trump praised the results on Truth Social, attributing the strong performance to government and tariff policies, robust consumption, higher net exports, a reduced trade deficit, and the absence of inflationary pressures. This marked the fastest growth in two years, reinforcing continued economic resilience.
Terms & Concepts
- Real GDP: Gross Domestic Product adjusted for inflation, representing the value of all goods and services produced.
- Core PCE Price Index: A measure of inflation tracking consumer spending, excluding food and energy prices.