US Economy Shows Strength But Slowing Signs Emerge

US GDP grew 4.9% in Q3, the fastest rate in nearly 2 years, driven by a surge in consumer spending.

Consumer spending jumped 4% compared to 0.8% last quarter, as households spent on concerts, movies, etc.

High consumer spending has fueled inflation, making it hard for the Fed to contain despite interest rate hikes.

The economy added 336,000 jobs in September, nearly double expectations, another sign of strength.

But spending may be slowing, as Mastercard reported weaker growth in Oct, signaling consumer caution amid economic uncertainty.