Free Republic

Data this week showed that the American economy is growing at its fastest pace in two years — and yet polling shows the mood on Main Street is grim. It’s almost hard to believe we’re talking about the same economy. But the metrics offer another reminder that two seemingly diverging trends can simultaneously be true. An economy that’s growing rapidly doesn’t necessarily mean everyone is feeling it. Yes, gross domestic product, the broadest measure of the US economy, heated up this summer to a sizzling annualized pace of 4.3%, far outpacing economists’ expectations. But the booming GDP did not...

The U.S. economy grew at a much greater-than-expected pace in the third quarter, boosted by strong consumer spending, a delayed report released Tuesday showed. U.S. GDP expanded by 4.3% in the July-September period, the Commerce Department said in its initial reading of third-quarter growth. Economists polled by Dow Jones expect a gain of 3.2%. Consumer spending expanded by 3.5% in the third quarter after rising 2.5% in the second quarter.