Third-quarter U.S. GDP increases a better-than-expected 3.4% as September inflation accelerates

U.S. GDP grew at a better-than-expected 3.4% annualized rate in the third quarter, while September inflation accelerated. The personal consumption expenditures price index was projected to rise 0.5% in September, reaching an annual rate of 3.7%, according to the Dow Jones consensus. The data signals a resilient economy but persistent price pressures.