U.S. 3rd quarter GDP grows 4.9%, fastest pace in nearly 2 years

The U.S. economy grew an annualized 4.9 percent in real terms from July through September, expanding at its fastest pace in about two years, on the back of robust consumer spending despite rising interest rates, the Commerce Department said Thursday.

The initial estimate of gross domestic product for the third quarter grew far more than the market forecast of 4.3 percent, with the rate jumping from 2.1 percent in the second quarter. The latest GDP growth rate is the highest since the fourth quarter of 2021.

The world’s largest economy remains bullish, registering its fifth straight quarter of ...