What to know about the US economy as midterm elections near
As campaigns race toward the midterm elections, data reveals that the U.S. economy is performing well, driven by consumer spending and a resilient growth rate. The U.S. gross domestic product increased at a 3.4% annualized rate in the third quarter, surpassing expectations even as September inflation accelerated. However, consumer confidence has not kept pace with the positive macroeconomic data, leaving voters weighing a mixed economic forecast as they head to the polls. The economy ranks as a top concern among voters, with inflation highlighted as a key factor.
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- ✓ U.S. GDP increased by 3.4% in the third quarter.
- ✓ The economy ranks as a top concern among voters as campaigns race toward the midterm elections.
- ✓ Consumer spending helped the U.S. economy grow at a fast clip in the third quarter.
- ✓ September inflation accelerated as third-quarter GDP increased.
What changed
New data from the Bureau of Economic Analysis revealed that U.S. GDP grew by a better-than-expected 3.4% in the third quarter.
Live updates
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US Economy Shows Strength in Third Quarter as Midterms Approach
As campaigns race toward the midterm elections, data reveals that the U.S. economy is performing well, driven by consumer spending and a resilient growth rate. The U.S. gross domestic product increased at a 3.4% annualized rate in the third quarter, surpassing expectations even as September inflation accelerated. However, consumer confidence has not kept pace with the positive macroeconomic data, leaving voters weighing a mixed economic forecast as they head to the polls. The economy ranks as a top concern among voters, with inflation highlighted as a key factor.
Why it matters
The state of the U.S. economy serves as a central battleground for voters casting ballots in the midterm elections to determine control of Congress. While strong macroeconomic indicators point to robust growth and an ongoing investment boom, persistent inflationary pressures create a disconnect with everyday consumer sentiment. Investors are closely assessing how the election results and potential shifts in fiscal policy or regulation might impact markets.
What is confirmed
- U.S. GDP increased by 3.4% in the third quarter.
- The economy ranks as a top concern among voters as campaigns race toward the midterm elections.
- Consumer spending helped the U.S. economy grow at a fast clip in the third quarter.
- September inflation accelerated as third-quarter GDP increased.
Still unconfirmed
- New economic data challenges the Federal Reserve chief's not-too-hot perspective.
What to watch next
- Final certification and interpretation of the 2026 midterm election results and control of Congress.
- Upcoming adjustments in stock and Treasury markets driven by fiscal policy and AI regulation expectations.
confidence 95%Sources used for this update (28)
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- The New York Times — U.S. GDP Increased 3.4% in Third Quarter
- The Washington Post — U.S. economy grew at a fast clip in 3rd quarter, thanks to consumer spending
- CNBC — Third-quarter U.S. GDP increases a better-than-expected 3.4% as September inflation accelerates
- Yahoo Finance — US GDP accelerates to 3.4% in the third quarter
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