The U.S. economy grew at an annualized rate of 4.9% in the third quarter as higher wages helped fuel consumer spending and businesses restocked at a brisk clip to meet the strong demand. Growth in consumer spending, which accounts for more than two-thirds of U.S. economic activity, accelerated at a 4.0% rate and added 2.7 percentage points to GDP growth, and was driven by spending on both goods and services. Though the blockbuster performance over the summer is likely not sustainable, it showcased the economy's stamina despite aggressive interest rate increases from the Federal Reserve.
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Robert G. Gilliland, CRPC™Managing Director and Senior Wealth Advisor
Robert’s professional journey seamlessly blends individual excellence with exceptional team-building skills. While earning his Bachelor’s degree in Finance from Stephen F. Austin State University, he financed his education by managing a restaurant franchise — a role that honed his abilities in time management, leadership, and financial oversight. At Merrill Lynch, Robert quickly distinguished himself through […]
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