Overview
- The Bureau of Economic Analysis reported the 4.3% annualized Q3 gain after a 43‑day federal shutdown delayed publication.
- Growth reflected solid household spending (+3.5%), export strength and higher public outlays, with falling imports providing a mechanical lift even as President Trump credited tariffs.
- Bank of America estimates hyperscalers invested about $399 billion in AI infrastructure this year, with Goldman Sachs noting AI‑linked firms issued over $200 billion in net bonds, roughly 30% of new dollar credit.
- Outside AI, private capital spending remains weak or slightly declining, with analysts saying non‑tech investment and traditional equipment outlays have stalled.
- Consumer confidence dropped for a fifth straight month in December to 89.1, underscoring the divergence between headline growth and household sentiment.