U.S. Economy Grew By 5% in Third Quarter of 2014

The Bureau of Economic Analysis reported a real surprise for us this morning (12/23/2014).  The first growth estimate as reported by the BEA for the third quarter was 3.5%.  Then on the second estimate for third quarter growth they reported that the economy grew in real terms by 3.9%.  Then this morning they released their third estimate for third quarter GDP growth at 5%.  This is really good news.  It will be interesting to see the first estimate for 4th quarter growth, when it is released in late January 2015.