U.S.: Why Economic Growth Is Galloping

But it's all doom and gloom from MSM.

The economy is proving as unstoppable as the 11-0 Indianapolis Colts. Consumers have kept spending even in the wake of sharply higher energy prices and after their confidence was pummeled by this summer's hurricanes. And despite initial worries over demand generated by the storms and oil hikes, businesses continue to invest in new equipment and add to their payrolls.

The economy's resilience is especially evident in the latest update on growth from the Bureau of Economic Analysis. The BEA's second look at third-quarter gross domestic product showed that the economy grew by a robust 4.3% annual rate, even with the business shutdowns caused by Hurricanes Katrina and Rita. And real GDP in the fourth quarter appears to be increasing at a healthy pace of greater than 3%. For all of 2005, real GDP is on track to expand by 3.7%.

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