U.S. Economy Grows by 4.9% in Q3 2023, Surpassing Expectations

United States of America
The growth rate surpassed economists' expectations of 4.7%.
The growth was partially offset by a decrease in private inventory investment.
The increase in GDP is attributed to the rise in personal consumption expenditures, nonresidential fixed investment, and exports.
The U.S. economy grew by 4.9% in the third quarter of 2023.

The U.S. economy experienced a growth of 4.9% in the third quarter of 2023, surpassing the expectations of economists who had predicted a growth rate of 4.7%. This data was released by the Bureau of Economic Analysis on October 26, 2023. The growth rate is a significant increase from the 2.7% growth rate recorded in the second quarter of the same year. The increase in GDP is attributed to the rise in personal consumption expenditures, nonresidential fixed investment, and exports. However, the growth was partially offset by a decrease in private inventory investment. The increase in personal consumption expenditures reflects the increased spending by households on goods and services. The rise in nonresidential fixed investment indicates increased spending by businesses on equipment, structures, and intellectual property products. The increase in exports signifies an increase in the sales of U.S. goods and services to foreign buyers. The decrease in private inventory investment indicates that businesses were drawing down their inventories, possibly in response to increased demand. Despite the positive growth, some economists warn that the economy could face headwinds in the coming months due to supply chain disruptions and inflation pressures.

Confidence

95%

Doubts
  • The future economic predictions mentioned in the articles are based on current data and trends, which can change rapidly due to unforeseen circumstances.

Sources

93%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

U.S. Economy Slows Less Than Expected in Third Quarter

The Name Of The NZ Prefix. I PWA NZI.P.Was Dropped. Ben Casselman Thursday, 26 October 2023 00:00
  • Unique Points
    • The article provides a detailed analysis of the factors contributing to the GDP growth, including consumer spending and business investment.
    • The author also discusses the impact of supply chain disruptions on the economy.
  • Accuracy
    No Contradictions at Time Of Publication
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (95%)
    • The author seems to slightly favor the current administration's economic policies.
    • Site Conflicts Of Interest (85%)
      • The New York Times is owned by The New York Times Company, which has been accused of having a liberal bias in its reporting. This could potentially influence the way economic news is presented.
      • Author Conflicts Of Interest (100%)
        None Found At Time Of Publication

      90%

      The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
      (Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

      A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

      US GDP grew at a 4.9% annual pace in the third quarter, better than expected

      CNBC News Jeff Cox Thursday, 26 October 2023 00:00
      • Unique Points
        • The article provides a comparison of the GDP growth rate with the predictions made by economists.
        • The author discusses the role of the Federal Reserve in the economic growth.
      • Accuracy
        No Contradictions at Time Of Publication
      • Deception (100%)
        None Found At Time Of Publication
      • Fallacies (100%)
        None Found At Time Of Publication
      • Bias (90%)
        • The author seems to slightly favor the Federal Reserve's policies.
        • Site Conflicts Of Interest (80%)
          • CNBC is owned by NBCUniversal News Group, a division of NBCUniversal, which is in turn owned by Comcast. Comcast has been known to lobby for policies that favor its own business interests, which could potentially influence the way economic news is reported.
          • Author Conflicts Of Interest (100%)
            None Found At Time Of Publication

          92%

          The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
          (Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

          A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

          US economy grows at 4.9% rate in third quarter

          CNN News Site: In-Depth Reporting and Analysis with Some Financial Conflicts and Sensational Language Anneken Tappe Thursday, 26 October 2023 00:00
          • Unique Points
            • The article provides a detailed analysis of the impact of the GDP growth on the job market.
            • The author discusses the potential future trends in the economy.
          • Accuracy
            No Contradictions at Time Of Publication
          • Deception (100%)
            None Found At Time Of Publication
          • Fallacies (100%)
            None Found At Time Of Publication
          • Bias (95%)
            • The author seems to slightly favor the current administration's job policies.
            • Site Conflicts Of Interest (80%)
              • CNN is owned by WarnerMedia News & Sports, a division of AT&T's WarnerMedia. AT&T has been known to lobby for policies that favor its own business interests, which could potentially influence the way economic news is reported.
              • Author Conflicts Of Interest (100%)
                None Found At Time Of Publication