U.S. Gross Domestic Product grew even more than previously estimated in the third quarter, rising by 4.1 percent, according to the Department of Commerce. It is the highest quarterly growth for the U.S. economy since the recession five years ago and, along with unemployment falling below 7 percent, signals that the pace of economic recovery is quickening.
The Federal Reserve this week said it would begin gradually pulling back on its bond buying program that helped support the economy by maintaining historically low interest rates.
On Dec. 5, the Commerce Department's estimated that GDP grew 3.6 percent in the third quarter. In the second quarter, GDP grew 2.5 percent.