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US economy posts stronger Q3 growth
The US economy grew at a healthy 3.4 percent annual pace from July through September, accelerating from the second quarter on strong consumer spending and investment in artificial intelligence. The expansion in third-quarter gross domestic product – the nation’s output of goods and services – was faster than the 2.2 percent growth registered from April through June, the US Commerce Department said on Thursday. Consumer spending rose at a brisk 3.8 percent clip in the third quarter, and business investment was up sharply, reflecting the AI boom. The American economy – by far, the world’s biggest – has proven resilient in the face of higher energy prices caused by the fighting with Iran. Economists had expected GDP to grow 3 percent in the third quarter, according to a survey of forecasters by the data firm FactSet. US growth has been lifted by an AI investment boom. Business investment, excluding housing, was up 12.7 percent in the third quarter. Investment in information processing equipment surged 37.4 percent, in software 9.6 percent and in research and development 7.5 percent. However, housing investment, hurt by high mortgage rates, dropped 3.3 percent and has now fallen six of the last seven quarters. Thursday’s report was the first of three Commerce Department estimates of third-quarter GDP growth. (AP) Edited by Edmond Fong
US economy posts stronger Q3 growth
The US economy grew at a healthy 3.4 percent annual pace from July through September, accelerating from the second quarter on strong consumer spending and investment in artificial intelligence. The expansion in third-quarter gross domestic product – the nation’s output of goods and services – was faster than the 2.2 percent growth registered from April through June, the US Commerce Department said on Thursday. Consumer spending rose at a brisk 3.8 percent clip in the third quarter, and business investment was up sharply, reflecting the AI boom. The American economy – by far, the world’s biggest – has proven resilient in the face of higher energy prices caused by the fighting with Iran. Economists had expected GDP to grow 3 percent in the third quarter, according to a survey of forecasters by the data firm FactSet. US growth has been lifted by an AI investment boom. Business investment, excluding housing, was up 12.7 percent in the third quarter. Investment in information processing equipment surged 37.4 percent, in software 9.6 percent and in research and development 7.5 percent. However, housing investment, hurt by high mortgage rates, dropped 3.3 percent and has now fallen six of the last seven quarters. Thursday’s report was the first of three Commerce Department estimates of third-quarter GDP growth. (AP) Edited by Edmond Fong
Flávio Bolsonaro calls himself 'leader of Brazil' after election loss
The defeated presidential candidate says he will lead the opposition from the US.
Graphics: Support and acquisition scheme for Wang Fuk Court owners
Graphics: Support and acquisition scheme for Wang Fuk Court owners
US Midterms: Donald Trump and Barack Obama make closing pitches
In the United States, Democrats are turning to Barack Obama to rally voters ahead of the midterm elections, a crucial test that could shape the remainder of Donald Trump's presidency. The former president has addressed three campaign rallies this week, with the latest one in Atlanta, Georgia. FRANCE 24's International Affairs Editor Angela Diffley has more.
Suspects in alleged school shooting plot in Georgia had floor plan, had chosen a date, warrants say
Authorities say that the suspects in an alleged plot to carry out a shooting at a Georgia high school had a floor plan of the school and had chosen a date