Third-quarter growth accelerated as household spending and business investment remained resilient.
The US economy grew at a 3.4% annual pace from July through September, accelerating from the previous quarter. Consumer spending rose strongly, while business investment reflected continued demand for artificial-intelligence infrastructure.
The data point to resilient activity despite higher borrowing costs and energy-market uncertainty. Economists will now watch whether household demand can remain firm into the final quarter.
Source: Associated Press.
The coffee chain's outlook suggests operational changes are beginning to improve performance.
Investors focused on cash consumption despite rapid expansion in the cloud business.
Investors weighed resilient growth against the rising cost of the artificial-intelligence build-out.
New applications for unemployment benefits declined to their lowest level since mid-July.
