US GDP Revised Upward to 3.1% Amidst Robust Consumer Spending and Exports

In an encouraging economic development, the United States has seen its gross domestic product (GDP) growth estimate for the third quarter of 2024 revised upwards to 3.1%, as reported by the Commerce Department. This adjustment follows stronger-than-expected consumer spending and an increase in exports, painting a hopeful picture for the American economy.

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U.S. Economy Surges with 2.8% Growth Driven by Robust Consumer Spending

The latest data from the U.S. Bureau of Economic Analysis reveals that the country's Gross Domestic Product (GDP) expanded at an impressive annual rate of 2.8% in the third quarter of 2024. This marks a significant increase from earlier in the year, showcasing the resilience of the American economy, particularly amidst heightened interest rates and global economic challenges.

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