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Thursday, October 29, 2026
NPR Business: The U.S. economy grew faster in the summer compared to the spring, driven by consumer spending as well as investments in AI. Gross domestic product, which broadly measures economic activity, grew at an annual rate of 3.4% July through September, according to a report from the Commerce Department released Thursday. The previous quarter GDP grew at a 2.2% annual pace. A big driver for GDP growth in the third quarter was the strong investments from AI companies, which continue to build out data centers and spend big money in developing the technology. Meanwhile, consumer spending was another of the big drivers of GDP growth, led in part by higher-income Americans who are better able to withstand stubbornly high inflation. |
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