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- US economy grew at robust pace in third quarter (newsbreak.com)
The US economy experienced solid growth in the three months leading up to September. While slightly slower than the previous quarter, it eased concerns about an economic slowdown.
The economy expanded at an annualized rate of 2.8%, driven by increased consumer spending, rising exports, and robust government spending.
This growth occurred despite the Federal Reserve’s recent decision to lower interest rates to combat inflation. While inflation has eased from its peak, it remains above the Fed’s target of 2%.
The labor market remains strong, with employers adding 254,000 jobs in September. This exceeded expectations and pushed the unemployment rate to a near-50-year low of 4.1%.
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- US economy grew at robust pace in third quarter (newsbreak.com)