The US economy grows 3.4%, more than expected, five days before the election
GDP grew much faster between July and September than in spring, pushed by consumer spending and investment. Imports soared. The data comes just before the November 3 midterm elections.
Translated from the original Spanish article. Read in Spanish
News published on October 29, 2026. The situation may have changed since then.
The US economy is moving faster than expected. According to the Bureau of Economic Analysis (BEA), GDP grew at an annual rate of 3.4% between July and September 2026.
What that number means
GDP measures everything a country produces. A 3.4% annual rate means that if it kept this pace for a whole year, the economy would grow 3.4%. In the previous quarter it had grown 2.2%.
Economists expected somewhat less: between 3.1% and 3.2%, depending on the source.
This is only the first estimate. The BEA will publish a revision on November 25, which could change the figure.
What pushed it
Household consumption, business investment and government spending all rose.
On the other hand, exports fell and imports rose sharply, almost 20%, which subtracts from GDP.
Consumer spending and private investment together grew 4.9%, a sign that domestic demand is strong.
And prices
An inflation indicator watched by the Federal Reserve, the PCE index, rose 2.1% in the quarter. That is less than feared, although the Fed itself warned the day before that inflation is still too high.
Why it matters now
The data arrives five days before the November 3 midterm elections. The economy is one of voters' biggest concerns, and both parties will use the figure to their advantage.
To find out what the Fed decided, read [why the Federal Reserve left rates alone](fed-tasas.html).
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Sources (in Spanish)
- Estimación oficial: BEA (29 de octubre de 2026).
- Previsiones de los economistas: investingLive y Yahoo Finance.
- Importaciones, demanda privada y precios: StockTitan e IndexBox.
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