{"id":645441,"date":"2026-10-30T03:08:23","date_gmt":"2026-10-30T03:08:23","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/645441\/"},"modified":"2026-10-30T03:08:23","modified_gmt":"2026-10-30T03:08:23","slug":"us-economy-posts-strong-growth-inflation-stubbornly-high-in-challenge-to-trump","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/645441\/","title":{"rendered":"US economy posts strong growth, inflation stubbornly high in challenge to Trump"},"content":{"rendered":"<p>WASHINGTON: The United States posted strong economic growth in the third quarter, but the Fed&#8217;s preferred inflation gauge also accelerated, the Commerce Department said on Thursday (Oct 29), in a mixed economic\u00a0bag for US President Donald Trump <a href=\"https:\/\/www.channelnewsasia.com\/world\/trump-us-midterms-election-respect-honest-results-6497496\" rel=\"nofollow noopener\" target=\"_blank\">ahead of key midterm polls<\/a> next week.<\/p>\n<p>Real GDP increased at an annual rate of 3.4 per cent in the third quarter, the department&#8217;s Bureau of Economic Analysis (BEA) said in a statement, beating market expectations.<\/p>\n<p>&#8220;The contributors to the increase in real GDP in the third quarter were increases in investment, consumer spending, and government spending that were partly offset by a decrease in exports,&#8221; the BEA said in a statement.<\/p>\n<p>The US Federal Reserve&#8217;s preferred gauge for inflation &#8211; the Personal Consumption Expenditures (PCE) price index &#8211; rose by 3.6 per cent year-on-year in September, an increase from the previous month.<\/p>\n<p>Trump&#8217;s handling of the economy is a key issue for voters heading into midterm elections on Tuesday, where Democrats are seeking to wrest control of both houses of Congress from the president&#8217;s Republican Party.<\/p>\n<p>The US-Israel war on Iran has sent global energy prices skyrocketing due to Tehran&#8217;s retaliatory action, with US consumers paying an average of 42 per cent more at the pump for regular gasoline, according to data from the AAA motor club.<\/p>\n<p>The president&#8217;s wide-ranging tariff policies have also upended global trade and fuelled inflation.<\/p>\n","protected":false},"excerpt":{"rendered":"WASHINGTON: The United States posted strong economic growth in the third quarter, but the Fed&#8217;s preferred inflation gauge&hellip;\n","protected":false},"author":2,"featured_media":645442,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,219,866,111,139,69,1430,316261],"class_list":["post-645441","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-federal-reserve","tag-new-zealand","tag-newzealand","tag-nz","tag-united-states","tag-us-midterms"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/645441","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=645441"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/645441\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/645442"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=645441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=645441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=645441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}