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But we saved everything 🙂.
U.S. gross domestic product grew by 3.4% quarter over quarter in the third quarter, with consumer spending up 3.8% and business investment rising 12.7%, led by artificial intelligence and equipment. Residential investment declined by 3.4%, trade subtracted 3.3 percentage points, imports climbed 19.7%, inventories added 1.6 percentage points, and government spending increased 5.3%. Gregory Daco shared this summary, describing the U.S. economy as robust but not without risks.
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Gregory Daco previously highlighted how sovereign debt supply and demand changes affect financial markets and fiscal space. He also reported on South Korea's Q3 economic surge driven by chip exports and investment. Both analyses focused on recent trends impacting global economic performance.