To put that in perspective, it is the strongest quarter of growth since 2003. That's right: the best quarterly growth in 11 years!
"...There is no doubt the economy has been great this year," said Dan Greenhaus, chief global strategist at BTIG LLC.
Others on Wall Street agree and continue to send the stock market to record highs with the Dow index now crossing 18,000 for the first time ever.
Growth came from all major segments with business investment, consumer spending, housing, exports and government spending all showing signs of robust strength in this week's report.
All of those healthy reports explain why hiring has increased dramatically this year. Employers added 321,000 jobs in November, making 2014 the strongest year for job growth since 1999. Again -- underscore this and make no mistake: this year has been the best year for job growth in 15 years!
Finally...for the first time in seven years, more than half of Americans think the economy is in good shape, according to a new CNN/ORC poll released on Tuesday. That marks a big improvement from October when just 38% of Americans said economic conditions were somewhat or very good.
Happy, Happy Holidays!