US Economy Grows by 4.3 Percent, Beating Expectations - US Economy Grows by 4.3 Percent, Beating Expectations
The U.S. economy grew faster than expected in mid-2024. Official figures show a strong rise in output, driven by steady demand. Experts had predicted a slower pace of expansion.
In the second quarter, GDP climbed by 3.8%. This beat the average forecast of 3.3%, signalling robust momentum. The surge followed a period of high consumer spending and business investment.
The upward trend continued into the third quarter. Growth reached an annualised rate of 4.3%, maintaining the economy’s strong performance. However, these figures are reported on an annualised basis, which differs from European data methods.
The boom echoes patterns from the 1920s, when automotive production and household appliances fuelled expansion. Back then, consumer credit played a key role in driving demand. Today’s growth also reflects rising purchases of cars and electronics.
The latest figures confirm the U.S. economy remains resilient. Strong growth in consecutive quarters suggests sustained demand across sectors. Analysts will now watch whether this pace holds in the coming months.
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