02United States · Economics and technology
America’s growth is strong—and unusually narrow
Facts
The US economy expanded at a 3.4% annualized rate in the third quarter, while The Wall Street Journal reported that AI-linked investment accounts for an unusually large share of momentum.
InterpretationStrong headline demand and low unemployment cut against recession narratives. The constraint is concentration: if data-centre investment cools before productivity broadens, fiscal and household weakness will become harder to conceal.