It seems that all though GDP estimate cuts for Q3 we saw this summer may have been a tad hasty…
From USA Today:
The Commerce Department says the economy expanded at an annual rate of 2.5% in the July-September quarter. That’s nearly double the 1.3% growth rate in the April-June quarter, and a vast improvement over the anemic 0.9% growth for the first half of the year.
Consumer spending grew at an annual rate of 2.4% — triple the rate of spring. They spent more on cars, clothing and health care, and utilities.
Notably, it’s the “strapped consumer” getting it done and not the “cash-rich corporations”.