the final annualized quarterly growth rate of US real GDP in the third quarter was recorded at 3.1%, while the previous forecast was 2.8%. The final quarterly growth rate of actual personal consumption expenditure in the third quarter rose to 3.7%. These data reinforce the view that although the market expects the US economy to eventually slow down, the economy is still growing strongly. The Fed previously hinted that the pace of interest rate cuts would slow down by 2025, triggering a stock market sell-off, partly based on recent stronger-than-expected economic data.