Key takeaways

• US GDP grew at a 4.3% annual rate in Q3 2025, BEA said.
• November 2025 inflation was 2.7% year-over-year in the CPI report, with an October data gap tied to the shutdown.
• The unemployment rate stood at 4.6% in November 2025, according to BLS.
• The Federal Reserve cut rates on Dec 10, setting the policy range at 3.50% to 3.75%.

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The US economy has grown at a 4.3% annual rate in the third quarter of 2025 (July to September), according to the US Bureau of Economic Analysis (BEA). BEA said the increase in US GDP growth in Q3 2025 reflected higher consumer spending, exports, and government spending, partly offset by a drop in investment. BEA also noted imports fell, which mechanically adds to GDP in the national accounts. The GDP report arrived later than usual because of a recent US government shutdown, with BEA combining what would normally be multiple releases into one initial estimate.

On prices, the Consumer Price Index (CPI) report for November 2025 showed inflation running at 2.7% over the past 12 months. US officials said October CPI survey data were not collected because of the funding lapse. The labor market has also cooled. The US unemployment rate was 4.6% in November 2025, higher than a year earlier, according to the Bureau of Labor Statistics (BLS). In response to changing conditions, the Federal Reserve cut its benchmark policy rate by 0.25 percentage points on Dec 10, setting the target range for the federal funds rate at 3.50% to 3.75%.

Federal Reserve

Recent-year context shows the US economy moving from the pandemic shock to steadier growth: real GDP fell 2.2% in 2020, then rose 6.1% in 2021, 2.5% in 2022, and 2.9% in 2023 (revised), according to BEA’s annual update. For 2024, BEA reported real GDP growth of 2.8% for the year, compared with 2.9% in 2023, with growth supported by consumer spending, investment, government spending and exports.

For Nepali and Nepalese families and small businesses in the United States, these indicators matter most through jobs, rent and grocery prices, and borrowing costs for cars, credit cards, and mortgages. Any further rate moves will depend on whether inflation continues trending down and whether unemployment rises further. The next major checkpoints include BEA’s updated Q3 2025 GDP estimate (scheduled for Jan 22, 2026) and the next CPI release for December 2025 (scheduled for Jan 13, 2026).