The US is expected to have one of the best economic performances of any major nation this year, according to data given by the Commerce Department, despite a minor deceleration from the previous quarter’s 3% rate.
The largest driver, up from earlier in the year, was consumer spending.
Surveys have repeatedly shown that Americans’ top concern is the economy, and the revelation comes just days before polls close in America’s fiercely disputed presidential race.
It’s unclear if the most recent statistics will significantly ease people’s concerns.
Despite a sharp decline during the pandemic, economic sentiment has remained pessimistic, with an approximately 21% increase in it.
In a survey this month, the Associated Press-NORC Center for Public Affairs Research found that a sizable majority of Americans (62%) believed that the economy was “bad” overall.
Has the US economy improved or deteriorated since Trump took office?
Why the US economy is booming and surpassing that of Europe
What policies do Trump and Harris have?
One might anticipate that the concerns would be terrible news for Kamala Harris and the Democrats, the party in the White House, in a nation where the catchphrase “it’s the economy, stupid”—which was first used to explain elections in 1992 by strategist James Carville—is frequently used.
