The U.S. economy grew at a pace that would equal 3.4% over a year in the third quarter of 2026, up from 2.2% in the second quarter, as stronger investment, consumer spending and government spending more than offset falling exports, the Bureau of Economic Analysis said Thursday.
The advance estimate covers July through September and shows that real GDP increased 0.8% from the previous quarter. The annualized figure shows what the quarterly growth rate would be if it continued for a full year. BEA said growth accelerated mainly because investment grew faster and government spending returned to growth.
Exports fell, while imports rose more than they had in the prior quarter, limiting the overall increase. Consumer spending rose at a 3.8% annual rate, matching its second-quarter pace. A measure combining household spending with private investment in fixed assets rose 4.9%, up from 4.6%.
Reuters reported that business investment related to artificial intelligence helped support growth. Reuters reported that households continued spending despite higher energy costs. The report showed that price increases slowed.
The personal consumption expenditures price index rose at a 2.1% annual rate, down from 5.0%. The index excluding food and energy fell to 2.5% from 3.3%. The figures are preliminary and may change as more data become available.
BEA scheduled its second estimate for November 25.