The U.S.’s GDP grew an encouraging 5% in the third quarter of 2014, the strongest quarter growth since the third quarter of 2003. Following Q2’s 4.6% growth, Q3’s expectation-surpassing performance marks the first time in ten years the economy has grown by +4% in two consecutive quarters.
The numbers were revised up by the Commerce Department from an estimated 3.9% and beat even the economists’ forecasts of 4.3%-4.4% growth.
The economy is picking up steam thanks to decreased unemployment — jobless claims are at their lowest point since 2000 — and falling gas prices, something expected to continue into 2015, though economists also anticipate slower growth in the final quarter of this year.
[Image via screengrab]
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