Economic growth accelerated to 4.3% in the third quarter in boost to Trump
Gross domestic product grew at a 4.3% annual rate in the third quarter, the Bureau of Economic Analysis reported Tuesday, an acceleration that should give the Trump administration room to breathe as it confronts poor approval ratings on the economy.
TL;DR
- Third-quarter GDP grew at a 4.3% annual rate, exceeding expectations.
- This is the strongest quarterly growth rate in two years.
- Growth was boosted by stronger consumer and government spending.
- Business investment showed a slight slowdown, but spending on equipment and intellectual property remained strong.
- The report provides a positive economic indicator for the Trump administration.