The nation’s economy expanded at a robust 4.9% annual rate from July through September as Americans defied higher prices, rising interest rates and widespread forecasts of a recession to spend at a brisk pace.

The Commerce Department said the economy expanded last quarter at the fastest pace in nearly two years — and more than twice the 2.1% annual rate of the previous quarter.

Thursday’s report on the nation’s gross domestic product — the economy’s total output of goods and services — showed that consumers drove the acceleration, ramping up their spending on everything from cars to restaurant meals. Even though the painful inflation of the past two years has soured many people’s view of the economy, millions have remained willing to splurge on vacations, concert tickets and sports events.

    • protist@mander.xyz
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      1 year ago

      Cereals are all high-margin foods, they charge you that because you’ll fucking pay it, you dirty little piggy. Oink oink

      Anyway, switch to oatmeal, it’s cheaper and there are a million different ways to make it

    • remotelove
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      1 year ago

      You gotta pump that economy, one box of Raisin Bran at a time!

    • ImFresh3x@sh.itjust.works
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      1 year ago

      Because people are willing to pay it. Because they have the money to. When the economy is “hot” prices go up.

      • Zorque@kbin.social
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        1 year ago

        They also seem to go up when the economy is “cold”… it’s like the game is rigged or something.