The narrative of a "soft landing" in the US economy heats up again! Consumer spending drives Q3 GDP to its fastest growth in two years.

According to the Zhtng Finance APP, the U.S. economy (measured by GDP) expanded at its fastest pace in two years in the third quarter, thanks to resilient consumer and business spending and a calmer trade policy compared to the second quarter. However, some economists quickly warned after the GDP was released that this strong growth momentum is unlikely to continue until 2026, which to some extent means that the sudden surge in GDP against the backdrop of sluggish non-farm employment data strengthens expectations for a "soft landing", but does not indicate that the U.S. economy has completely achieved the soft landing trajectory that Federal Reserve officials have been hoping for.