US Economy Grows at Faster-Than-Expected Rate in the Third Quarter The economy grew at a 3.5% rate against a predicted rate of 3.4% by economists. According to the Commerce Department, a surge in consumer spending is a big reason why. The report comes amid concerns over rising interest rates slowing
the economy. Data shows it grew by 4% in the
third quarter, the strongest
since Q4 in 2014. The rise also helped offset a 7.9% decline in
business spending. It is the biggest quarterly decline in business spending since Q1 in 2016.