U.S. GDP grew at a 4.9% in September 2023

According to the latest data from the U.S. Bureau of Economic Analysis, the U.S. GDP grew at a 4.9% annual pace in Q3 of 2023, better than expected. 

This was the fastest quarterly advance in nearly two years, driven by robust consumer spending, increased inventories, exports, residential investment and government spending.


The U.S. economy faced several challenges in the third quarter, such as high interest rates, inflation pressures, and global headwinds, but still managed to overcome them and show strong growth. 

However, some analysts expect a slowdown in the fourth quarter and in early 2024, especially if the Federal Reserve implements another interest rate hike and the housing market remains sluggish and if consumer spending shows signs of slowing.

GDP and Inflation

The GDP report also showed that inflation rose 3.7% in September 2023, down from 9.1% in June, but still above the Fed’s 2% target. The Fed is expected to keep its policy tight and may announce a tapering of its bond-buying program next week.

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