Consumer spending has been a key driver of the U.S. economy, but polls show Americans are increasingly worried about their finances.
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The U.S. economy grew strongly in July, August and September, helped by robust consumer spending, especially on health care.
Gross domestic product, the broadest measure of a country's economic activity, grew at a 4.3% annual rate in the third quarter, much faster than the 3.8% growth seen between April and June. according to the Ministry of Commerce on Tuesday.
Growth has accelerated since the early months of 2025, as the U.S. economy actually decreased at an annual rate of 0.6% as President Trump prepared sweeping global tariffs.
The latest figures are already quite outdated. Tuesday's report was originally due in late October but was scrapped historic government shutdown. And now it comes as polls increasingly show Americans are gloomy about President Trump's Economic Management and tall cost of living.
Data for the third quarter shows a decline in business and residential investment. Spending by state and local governments has increased. The impact of trade fluctuations in the latest report was more mixed compared to the previous year, with goods imports falling and exports increasing. Imports are subtracted from government measures of domestic economic activity, so they tend to reduce GDP.
