US economy grows faster than expected 3.4% in 3Q, driven by consumers, AI investment

The US economy grew faster than expected in the third quarter, with a 3.4% annualised rate of GDP growth.

Economists polled by Reuters had forecast a 3.2% pace, while estimates ranged from 1% to 4.2% growth.

The Commerce Department’s Bureau of Economic Analysis attributed the growth to consumer spending and AI-driven business investment.