US economy delivered a strong performance in Q3, with GDP growth registering at an annualized rate of 4.9%, surpassing the anticipated 4.3% and showing a marked improvement from the 2.1% seen in Q2.
This robust growth in real GDP was driven by a series of factors. Notably, there were marked increases in areas such as consumer spending, private inventory investment, exports, both state and local government spending, federal government spending, and residential fixed investment.
However, these gains were somewhat tempered by a decline in nonresidential fixed investment. Additionally, it’s essential to note that imports, which act as a deduction in GDP calculation, saw an increase during this period.