AI Data Insight
In the third quarter of 2026, the annualized quarter-over-quarter growth rate of US nominal government consumption expenditures and gross investment stood at 5.2%, slowing significantly from 10.8% in the second quarter. Although the momentum of fiscal expansion has moderated, overall GDP growth still beat the market consensus at 3.4%, driven by private AI capital expenditures and consumption resilience. Going forward, continued attention must be paid to post-election fiscal policy and the crowding-out effect of high interest rates on government spending.