The U.S. third-quarter GDP was revised to 3.1% due to increased consumer spending and exports

ChainCatcher news, according to Jin10, the final annualized quarterly rate of the actual GDP in the United States for the third quarter recorded 3.1%, while the previous forecast was 2.8%. The final quarterly rate of actual personal consumption expenditures for the third quarter rose to 3.7%. These data reinforce the view that, despite market expectations of a slowdown in the U.S. economy, it is still growing strongly.

The Federal Reserve previously hinted that the pace of interest rate cuts in 2025 will slow down, triggering a sell-off in the stock market, which is partly based on recent stronger-than-expected economic data.