The initial estimate released by the US Department of Commerce on the 26th shows that the actual gross domestic product (GDP) of the United States increased by 4.9% year-on-year in the third quarter of this year, exceeding market expectations. The US uses a month on month discount rate algorithm to calculate quarterly GDP data, which may amplify the actual volatility of economic growth. The real GDP of the United States grew at an annual rate of 2.1% in the second quarter and 2.2% in the first quarter. Data shows that in the third quarter of this year, at an annual rate, personal consumption expenditure, which accounted for about 70% of the US economy, increased by 4%, significantly higher than the 0.8% growth in the second quarter. Non residential fixed assets investment, which reflects the investment status of enterprises, shrank by 0.1%, and the index increased by 7.4% in the second quarter. In terms of contribution, personal consumption expenditure helped the economy grow by 2.69 percentage points in the current quarter, while non residential fixed assets investment did not pull or drag down the economic growth in the current quarter. Meanwhile, net exports dragged down the economy by 0.08 percentage points in the current quarter. Dean Baker, a senior economist at the Center for Economic and Policy Research in the United States, believes that the third quarter of strong economic growth in the United States has passed, and the fourth quarter GDP may be much lower. The World Economic Outlook report released by the International Monetary Fund earlier this month showed that the US economic growth forecast for 2023 is 2.1%, and the growth rate will slow to 1.5% in 2024. The US Department of Commerce usually estimates quarterly GDP data three times based on constantly improving information, and its second estimate of the third quarter GDP data will be released on November 29th.