The U.S. economy is set to show strong growth for the third quarter. New data arriving Thursday at 8:30 a.m. will likely reveal that consumer spending and artificial intelligence investments pushed the economy forward. This report shows growth beat the second quarter’s 2.2% rate, giving a boost to political leaders.
A new batch of economic data Thursday is expected to show the U.S. economy strengthened substantially over the last three months, driven by resilient consumer spending and a surge in the artificial intelligence buildout.
The Bureau of Economic Analysis’ first estimate of third quarter gross domestic product growth will be published at 8:30 a.m. Forecasts from leading economists and Federal Reserve models vary some—but all agree that third-quarter growth dramatically beat the second quarter’s 2.2% growth rate. A rosy GDP report will be welcomed by the president and his Republican party as voters concerned about the economy head to the polls in the midterm elections next week.