U.S. GDP grows 3.5 percent in third quarter

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last updated 8 January 2015

That news gives "fresh hope that a stubbornly slow-footed recovery could be gaining speed," writes Chico Harlan at The Washington Post.

The Commerce Department made the announcement Thursday, stating that the U.S. economy grew at a 3.5 percent annualized rate from July to September. The growth beat expectations, despite "mounting concerns about the health of overseas economies," The Wall Street Journal reports. American consumer spending remained solid during the third quarter, and the U.S. trade deficit shrank.