U.S. economy grew 4.4% in the third quarter, the fastest pace in two years.

The Commerce Department revised U.S. GDP growth to a 4.4% annual rate for the third quarter, citing strong consumer spending and a contribution from net exports.

The Commerce Department reported that U.S. gross domestic product rose at a 4.4% annual rate in the third quarter, a slight upward revision from its initial estimate. This is the fastest quarterly pace since the third quarter of 2023. The report highlights a 3.5% increase in consumer spending and notes a surge in exports alongside a drop in imports. The article also records public dissatisfaction with the high cost of living and points to uneven gains across different groups. Key details: - GDP growth was revised to a 4.4% annualized rate for Q3, up from the initial 4.3% estimate. - The April-June quarter grew at a 3.8% annual pace. - Consumer spending, which makes up about 70% of GDP, rose 3.5% in Q3. - Stronger exports and weaker imports helped boost overall growth. - The article reports that many Americans remain dissatisfied with the economy and high living costs, and it describes the pattern as a possible "K-shaped" recovery where gains are uneven. - Labor market indicators are softer: employers have added an average of about 28,000 jobs per month since March, while the unemployment rate is 4.4%. Summary: The upward revision indicates stronger measured output in the third quarter, driven by household spending and trade. That strength coexists with softer job gains and ongoing public concern about living costs. Undetermined at this time.