Robust Consumer Spending, Rising Exports Fuel US Economic Growth in Third Quarter

The US economy grew at its fastest pace in two years in the third quarter, fueled by robust consumer spending and a sharp rebound in exports, though momentum appears to have faded amid the rising cost of living and recent government shutdown.

The stronger-than-expected increase in gross domestic product last quarter, which was reported by the Commerce Department on Tuesday, also reflected continued investment by businesses in equipment and artificial intelligence. Government spending, mostly on defense, also provided a lift...

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