Revised Q3 GDP Figures Show 5.2% Rise, Boosted by Government Expenditure as Private Spending Falls

The US Bureau of Economic Analysis reported that the revised Q3 GDP growth rate was 5.2%, the highest since Q4 2021 and above initial estimates. This growth was mainly due to increased government spending, which contributed 0.94% to GDP, and inventory investment. However, personal consumption’s contribution decreased slightly compared to the previous quarter. Corporate profits also rose in Q3, with significant gains in both financial and nonfinancial sectors. Despite these positive figures, concerns about long-term economic stability remain.