American economy grows at fastest pace in years with much-better-than-expected 4.3% GDP gain

The American economy grew at its fastest pace in two years during the third quarter, with inflation-adjusted gross domestic product rising at a much-better-than-expected 4.3% annualized rate, according to a Bureau of Economic Analysis report released Tuesday.
Jeff Cox and Fred Imbert for CNBC:
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U.S. gross domestic product, a sum of all goods and services produced in the sprawling U.S. economy, 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…
A measure of growth called real final sales to private domestic purchasers rose 3% in the quarter, up 0.1 percentage point from the prior period. Federal Reserve policymakers watch the data point closely for signs of consumer demand…
Elsewhere in the report, corporate profits soared by $166.1 billion, or 4.2%, compared with a gain of $6.8 billion in the second quarter.

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MacDailyNews Take: Clearly, strong U.S. consumer spending is a boon for Apple.

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