Commerce Dept. GDP data reveals U.S. economy grew by 2.8% over the summer
The day's local, regional and national news, detailed events and late-breaking stories are presented by the ABC 6 News Team, along with the latest sports, weather updates including the extended forecast.
(ABC 6 News) — New numbers from the Commerce Department show the U.S. economy grew by 2.8% over the summer.
The growth of America’s Gross Domestic Product, though, slowed slightly from the previous quarter, but it has been growing for 2.5 years.
Consumer spending is driving the growth despite high interest rates and high cost of housing.
Inflation is also moving in the right direction with the annual rate at 2.2%, the lowest level in three years.