The U.S. economy grew at a brisk 5 percent annual rate last summer

The U.S. economy grew at a brisk 5 percent annual rate last summer
(Image credit: Scott Olson/Getty Images)

The U.S. economy grew by a robust five percent annual rate in the third quarter of 2014, the Commerce Department announced Tuesday. That's the fastest growth since the summer of 2003, and a sharp upward revision from the 3.9 percent growth the department initially estimated for the July-September quarter.

Coming on the heels of a strong 4.6 percent annual growth in the second quarter of the year, this number suggests the economy may finally be returning to a pre-recession norm.

Subscribe to The Week

Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

SUBSCRIBE & SAVE
https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg

Sign up for The Week's Free Newsletters

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.

Sign up
To continue reading this article...
Continue reading this article and get limited website access each month.
Get unlimited website access, exclusive newsletters plus much more.
Cancel or pause at any time.
Already a subscriber to The Week?
Not sure which email you used for your subscription? Contact us
Jon Terbush

Jon Terbush is an associate editor at TheWeek.com covering politics, sports, and other things he finds interesting. He has previously written for Talking Points Memo, Raw Story, and Business Insider.