The U.S. economy grew by 3.4% in the third quarter, exceeding forecasts

The main factors for growth were an acceleration in investments and an increase in government spending. At the same time, the positive dynamics were partially offset by a decrease in exports and a faster growth in imports. Final sales to private domestic purchasers, which account for consumer spending and private investments, increased by 4.9% after a rise of 4.6% in the previous quarter. At the same time, inflationary pressure weakened. The Consumer Price Index for goods and services rose by 2.1% compared to 5% in the second quarter. The core Personal Consumption Expenditures Price Index, excluding food and energy, increased by 2.5%, slowing down from 3.3%. The index of prices for domestic purchases rose by 3% after a jump of 5.6% in the previous quarter.