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.
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.
-
5 weather-beaten cartoons about the Texas floodsCartoons Artists take on funding cuts, politicizing tragedy, and more
-
What has the Dalai Lama achieved?The Explainer Tibet’s exiled spiritual leader has just turned 90, and he has been clarifying his reincarnation plans
-
Europe's heatwave: the new front line of climate changeIn the Spotlight How will the continent adapt to 'bearing the brunt of climate change'?
-
Dollar faces historic slump as stocks hit new highSpeed Read While stocks have recovered post-Trump tariffs, the dollar has weakened more than 10% this year
-
Economists fear US inflation data less reliablespeed read The Labor Department is collecting less data for its consumer price index due to staffing shortages
-
Crypto firm Coinbase hacked, faces SEC scrutinySpeed Read The Securities and Exchange Commission has also been investigating whether Coinbase misstated its user numbers in past disclosures
-
Starbucks baristas strike over dress codespeed read The new uniform 'puts the burden on baristas' to buy new clothes, said a Starbucks Workers United union delegate
-
Warren Buffet announces surprise retirementspeed read At the annual meeting of Berkshire Hathaway, the billionaire investor named Vice Chairman Greg Abel his replacement
-
Trump calls Amazon's Bezos over tariff displaySpeed Read The president was not happy with reports that Amazon would list the added cost from tariffs alongside product prices
-
Markets notch worst quarter in years as new tariffs loomSpeed Read The S&P 500 is on track for its worst month since 2022 as investors brace for Trump's tariffs
-
Tesla Cybertrucks recalled over dislodging panelsSpeed Read Almost every Cybertruck in the US has been recalled over a stainless steel panel that could fall off
