<p class="MsoNormal" style="text-align: left;" align="center">The U.S. Economy has hit an impressive milestone. In the third quarter, the gross domestic product (GDP) grew by 3.3%, even with the tough hurricane season.</p>
<p class="MsoNormal">This is the fastest rate seen in the last three years. In 2016, the economy saw merely 1.5% growth.  ;</p>
<p class="MsoNormal">&ldquo;It was the first time actual gross domestic product had exceeded potential GDP since the fourth quarter of 2007, suggesting the nation&rsquo;s economic resources are being used efficiently. An acceleration in growth at this point could generate overheating that produces financial excess or long-elusive consumer price pressures, writes the <em style="mso-bidi-font-style: normal;">Wall Street Journal. </em></p>
<p class="MsoNormal">The economy started to slow back during the recession that started to hit December of 2007. In mid-2009, the GDP was 6% below the maximum sustainable level.</p>
<p class="MsoNormal">This is another accomplishment of the Trump administration, which also recently announced that the unemployment rate is at the lowest level it has been in the last 17 years.</p>
<p class="MsoNormal">&ldquo;While the revised growth rate is in line with President Donald Trump&rsquo;s goal, economists generally see such a pace as unsustainable and expect growth to slow sometime in 2018. Trump and congressional Republicans are pushing a tax-cut plan with the aim of lifting GDP gains to ;3 ;percent ;annually, though analysts expect any economic boost to be modest, on balance, if the proposal becomes law,&rdquo; writes <em style="mso-bidi-font-style: normal;">Bloomberg Markets.</em></p>
<p class="MsoNormal">The GDP growth was anticipated to be around 3.2%, but again the economy is performing better than expected.</p>
<p class="MsoNormal">&rdquo;It&rsquo;s the sweet spot,&rdquo; said Beth Ann Bovino, chief U.S. economist at S&;P Global Ratings. &ldquo;We&rsquo;d like to be there for some time, but let&rsquo;s see how long it lasts.&rdquo; ;</p>
<p class="MsoNormal">So what attributed to the growth?</p>
<p class="MsoNormal">Interestingly enough, consumer spending, which accounts for 70% of U.S. economic output, decreased by 1% from the second quarter and grew at a pace of 2.3%.</p>
<p class="MsoNormal">However, business investments increase by 7.3% from July to September. But businesses accumulated also more inventory than expected, so this could halt some growth in the fourth quarter.</p>
<p class="MsoNormal">Government spending and investments also increased, due to the spike in defense spending.  ;</p>
<p class="MsoNormal">There are some areas in need of improvement though.  ;</p>
<p class="MsoNormal">&ldquo;Price data in the GDP report showed inflation remains behind the ;Fed&rsquo;s 2 percent goal. Excluding food and energy, the central bank&rsquo;s preferred price index tied to personal spending rose at a 1.4 percent annualized rate last quarter, revised from 1.3 percent and following a second-quarter gain of 0.9 percent,&rdquo; writes <em style="mso-bidi-font-style: normal;">Bloomberg Market.</em> ;</p>
<p class="MsoNormal">But the fed chair Janet Yellen expects the economy to only improve.</p>
<p class="MsoNormal">On Wednesday, Yellen said &#8220;the economic expansion is increasingly broad-based across sectors,&#8221; and that &#8220;the economy will continue to expand&rdquo; while addressing lawmakers.  ;</p>
<p class="MsoNormal">Forecasters at Macroeconomic Advisers are predicting 2.5% GDP growth for the next quarter.</p>
<p class="MsoNormal"><strong>Author&rsquo;s note:</strong> This is what we hoped for when Trump was elected. There might be a minor downturn soon, but with Trump&rsquo;s tax plans, it&rsquo;s likely the growth will only continue.</p>
<p class="MsoNormal"><strong>Editor&#8217;s note</strong>: This will be the first year since before Obama to be greater than 3% for the whole year.</p>
<p> ;</p>