Data this week showed that the American economy is growing at its fastest pace in two years — and yet polling shows the mood on Main Street is grim. It’s almost hard to believe we’re talking about the same economy. But the metrics offer another reminder that two seemingly diverging trends can simultaneously be true. … Read more
One big reason: Americans continue to spend, despite their pessimistic outlook on the economy, their lingering anger about high prices and even a slowdown in the job market. Enormous business investment in the data centers and other scaffolding needed for the artificial intelligence race also helps explain the economy’s growth. AI investment and household consumption, … Read more
An initial reading of third-quarter gross domestic product showed the US economy expanded at an inflation-adjusted annualized rate of 4.3%, a far faster pace than the 3.8% recorded in the second quarter, according to Commerce Department data released Tuesday. An acceleration in consumer spending, up 3.5% from 2.5% in the second quarter, and exports, up … Read more