The US economy grew at its fastest pace in nearly two years in the third quarter as higher wages in a tight labor market supported consumer spending.
The US economy thus negated warnings of a recession since 2022.
The US Department of Commerce's Bureau of Economic Analysis announced that the preliminary gross domestic product (GDP) in the US increased by 4.9 percent year-on-year, recording its fastest growth since the fourth quarter of 2021.
Economists participating in the Reuters survey had predicted that the US economy would grow by 4.3 percent in the third quarter.
Translated with DeepL
Editor: David Goodman
