An initial reading of third-quarter gross domestic product showed the US economy expanded at an inflation-adjusted annualized rate of 4.3%, a far faster pace than the 3.8% recorded in the second quarter, according to Commerce Department data released Tuesday. That’s the fastest growth rate in two years.
An acceleration in consumer spending, up 3.5% from 2.5% in the second quarter, and exports, up 8.8% from -1.8% in the second quarter, were the main contributors to the third-quarter GDP reading.
President Donald Trump said Tuesday the report was a reflection of his sweeping tariffs, which he increased substantially during the third quarter. However, a pending Supreme Court case could nullify many of the tariffs he’s enacted and potentially result in large refunds to importers.
https://www.cnn.com/2025/12/23/economy/us-gdp-q3
Consumer sentiment in the U.S. weakened for a fifth consecutive month in December, amid enduring concerns over jobs and business conditions, a monthly survey said.
Research group The Conference Board said Tuesday its consumer confidence index inched down to 89.1 from 92.9 in November. Economists polled by The Wall Street Journal had expected a higher reading of 91.0. November’s data was revised up as responses collected after the end of the federal-government shutdown were more positive than those collected during the impasse, the survey said.
“Despite an upward revision in November related to the end of the shutdown, consumer confidence fell again in December and remained well below this year’s January peak,” said Dana M. Peterson, chief economist at The Conference Board.