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US economic growth beats estimates in third quarter
US third-quarter GDP growth exceeded expectations, though rising inflation and weakening consumer confidence pointed to mixed economic conditions.
The US economy expanded at an annualized pace of 4.3% in the third quarter, exceeding market expectations of 3.2%. Data showed stronger consumption and investment contributions, while PCE inflation rose to 2.8% from 2.1% previously. Despite higher growth, surveys indicated softer consumer confidence as price pressures remained elevated across key spending categories.