The economy surged in the third quarter, growing at a 3.8% rate, better than economists had predicted:
Growth in the third quarter was broad-based, reflecting brisk spending by consumers, businesses and government.
The expansion in gross domestic product in the July-to-September quarter, the strongest since the beginning of the year, also exceeded many analysts’ expectations. Before the report was released, they were forecasting the economy to clock in at a 3.6 percent annual rate.
Given that growth last quarter was obviously impacted by hurricanes and high energy prices, the economy is showing remarkable strength. Which is of vastly more importance, in every way, than whatever indictments do or do not come out of Patrick Fitzgerald’s grand jury.