The White House cited 3.4% annualized U.S. growth in the third quarter, the quickest pace in a year, to argue President Donald J. Trump’s economic program is encouraging investment.
In an Oct. 29 release, the administration said private investment in plants and equipment advanced at a 9.4% rate during the quarter. It put business investment growth at almost 13%, calling that the strongest quarterly result in nearly 15 years. Consumer spending, separately, rose 3.8%, according to the White House.
The White House said investment growth so far in 2026 was more than twice the pace in 2025 and about three times the 2.3% rate recorded in the final year of the Biden administration. It also said the economy expanded at a 2.7% rate over the past three quarters, above a 2.4% Blue Chip consensus forecast and the Congressional Budget Office’s 2.2% projection. The release said 72% of economists surveyed by Bloomberg had underestimated the third-quarter growth figure.
The administration credited lower taxes, fewer regulations, energy dominance and its America First trade approach with driving the investment gains and growth. The White House said the investment points to more factories, manufacturing, jobs and production in the United States.
The release also described changes in the mix of imports. It said capital goods accounted for a record share of U.S. imports, while consumer goods made up 17% of goods imports, a share tied for the lowest on record. The White House presented those figures alongside domestic investment as evidence that productive capacity is being rebuilt.
