The U.S. economy’s better-than-expected growth in the third quarter was partly driven by robust consumer spending, Zacks reports. “Consumer spending in fact accounted for most of the increase in GDP, as the purchases by U.S. residents of goods and services increased 2.1% in the third quarter, compared with 1.0% increase in the second quarter,” it said.
SPDR S&P 500 ETF
Tisha Guerrero contributed to this article.
Full disclosure: Tom Lydon’s clients own SPY.