The U.S. economy posted robust growth in the third quarter of 2025, expanding at an annual rate of 4.3% according to the initial estimate released by the Bureau of Economic Analysis. The acceleration from the second quarter’s 3.8% growth rate tells only part of the story, however. A closer examination of the underlying components reveals that the third quarter’s expansion was not only faster but built on a far healthier, more broad-based foundation than the growth recorded earlier in the year. The distinction matters because GDP can grow for reasons that reflect genuine economic vitality or for reasons that are more ... (full story)