The economy grew 3.4 percent in the third quarter, the fastest pace in a year. Strong spending and growth contrast with the poor marks many voters are giving the economy.
The Personal Consumption Expenditures index picked up in September, according to data released a day after the Federal Reserve’s decision to hold interest rates steady.
Growth is in sharp contrast to households’ assessment, reflected in Trump’s record-low approval ratings
The US economy grew faster than expected in the third quarter as resilient consumer spending and AI-driven business investment more than offset the impact of higher oil prices stemming from the conflict in the Middle East.
Gross domestic product (GDP) increased at a 3.4% annualized rate last quarter, the commerce department’s bureau of economic analysis said in its advance estimate of the third quarter GDP on Thursday. Economists polled by Reuters had forecast GDP advancing at a 3.2% pace.
In advance of the midterms, Trump is blaming Kyiv for high gas prices while making clear moves to support Russia
As the US midterms approach, Donald Trump is abandoning Ukraine’s democracy in a desperate effort to deny responsibility for worsening inflation. Yet this past weekend’s dramatic elections in Brazil and Serbia show that voters can see through such subterfuge.
There is nothing like a political party’s corruptindifference to the plight of ordinary people to galvanize voter turnout. If US voters follow in the footsteps of their Brazilian and Serbian counterparts, a Democratic landslide is likely.
Anthony Albanese has ruled out major cuts to health, education and essential services in December’s mid-year budget update, but conceded savings are required as Labor struggles to curb accelerating inflation.
Amid growing pressure from within Labor’s own ranks, as well as from the opposition and business, Albanese said the Coalition was hypocritical in not supporting existing savings proposals, including the government’s plan to reduce the private health insurance rebate for people over 65.
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