U.S. Economy Grows at 2.8% in Q3, Below Expectations

The U.S. economy grew at an annualized rate of 2.8% in the third quarter of 2024, driven by strong consumer spending, according to the Commerce Department. This fell short of the 3.1% growth projected by Dow Jones economists and marked a slight slowdown from the 3% growth rate in Q2.

Despite high interest rates and ongoing inflation concerns, the economy remains resilient, supported by consumer confidence. While growth continues, economists are closely watching for signs that the effects of pandemic-era policies may wane, potentially impacting the U.S. economic outlook.