US economy grows faster than expected 3.4% in 3Q, driven by consumers, AI investment

The US economy grew faster than expected in the third quarter as resilient consumer spending and AI-driven business investment more than offset the impact of higher oil prices stemming from the conflict in the Middle East.

Gross domestic product increased at a ‌3. 4 per cent annualised rate last quarter, the Commerce Department’s Bureau of Economic Analysis said in its advance estimate of third-quarter GDP on…