New Delhi, Oct. 29 -- A new batch of economic data Thursday is expected to show the U.S. economy strengthened substantially over the last three months, driven by resilient consumer spending and a surge in the artificial intelligence buildout.

The Bureau of Economic Analysis' first estimate of third quarter gross domestic product growth will be published at 8:30 a.m. Forecasts from leading economists and Federal Reserve models vary some-but all agree that third-quarter growth dramatically beat the second quarter's 2.2% growth rate. A rosy GDP report will be welcomed by the president and his Republican party as voters concerned about the economy head to the polls in the midterm elections next week.

Economists surveyed by FactSet expect th...