US economy grew at a solid 2.8% pace last quarter on strength of consumer spending

The transcript discusses the importance of economic issues for voters, highlighting the recent GDP report showing 2.8% growth in the third quarter. It notes upcoming economic reports on inflation and jobs, which could influence undecided voters. Despite positive economic indicators, there's a disconnect between actual performance and public perception, with many Americans believing the economy is struggling. Consumer spending, driven by rising wages and low unemployment, is a key growth factor. However, high housing prices and interest rates continue to affect public sentiment. The transcript concludes by emphasizing the impact of gas and grocery prices on public perception.

What was the growth rate of the US economy in the third quarter according to the recent GDP report?

• 3.0%

• 2.8%

• 3.2%

• 2.5%

Which upcoming reports are expected to influence voter decisions?

• Trade balance report

• Consumer confidence index

• Inflation numbers and jobs report

• Federal Reserve meeting minutes

What percentage of the country's economic activity is driven by consumer spending?

• 50%

• 60%

• 80%

• 70%

What is the current core inflation rate according to the Federal Reserve's preferred gauge?

• 3.0%

• 1.8%

• 2.5%

• 2.2%

What factors are contributing to the disconnect between economic performance and public perception?

• Interest rates

• Gas and grocery prices

• Stock market fluctuations

• Housing market trends