✉news BusinessEconomy first seen 2 d ago, last 2 d ago, peak #18
US economy grew 3.4% in summer as consumers saved less
Original: The economy grew 3.4% this summer, but consumers got there by saving less
The US economy grew at a 3.4% pace over the summer, according to Marketplace's report on the latest figures. The strength came largely from consumer spending, but households sustained it by saving less rather than earning more, raising questions about whether the growth pace can continue if savings buffers keep shrinking.
Why now: Fresh GDP figures show solid growth, but reliance on reduced household savings is fueling debate about its durability.
United StatesUS economyMarketplace
Evidence
- The economy grew 3.4% this summer, but consumers got there by saving less · www.marketplace.org
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