United States: GDP grows at a 3.4% annualized rate
The first estimate for the third quarter was released on October 29.
Carried forward on November 2, 2026. Third-quarter advance estimate released October 29; revision expected November 25.
US real GDP grew at a 3.4% annualized rate in the third quarter, following 2.2% in the second, the BEA reports. Growth from the preceding quarter was 0.8%. [1]
Subject to revision
Investment, consumer spending and government spending supported activity. Exports declined and imports increased. This first estimate will be reviewed on November 25. [1]
Drivers of growth
Reuters highlights equipment purchases related to artificial intelligence. Consumer spending grew at a 3.8% annualized rate over the quarter, but households also reduced their saving. [2]
A softer end to the quarter
The quarterly picture masks a slowdown at the end of the period: inflation-adjusted consumer spending was flat in September, Reuters reports. A strong quarter therefore does not guarantee strength in the following months. [2]
Perspectives compared
Sources and documents
- [1] BEA — advance GDP estimate ↗October 29, 2026, 8:30 a.m. ET
- [2] Reuters — Lucia Mutikani ↗October 29, 2026; updated at 4:31 p.m. ET