US economy grew more than expected in Third quarter
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The economy remained on track this year, defying the gloomiest predictions. That doesn't mean Americans are thrilled with how things are going.
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.
The US economy picked up speed over the three months to September, as consumer spending jumped and exports increased. The world's largest economy expanded at an annual rate of 4.3%, up from 3.8% in the previous quarter. That was better than expected, and marked the strongest growth in two years.
The U.S. economy grew at a surprisingly strong 4.3% annual rate in the third quarter, the most rapid expansion in two years, driven by consumers who continue to spend in the face of ongoing inflation.
The jobs report on Tuesday "paints a sobering picture of a job market that may officially be turning frigid after a prolonged cooling period," Laura Ullrich, director of economic research in North America at the Indeed Hiring Lab, told ABC News in a statement.