US economy grew 2.5% last quarter

We're not out of the bad economy but it's still reasonably good growth all things considered.

US economic growth increased at its fastest in a year in the third quarter as consumers and businesses set aside fears about the recovery and stepped up spending, creating momentum that could carry into the final three months of the year.

At the same time, slightly fewer people sought unemployment benefits last week, though level remains elevated above 400,000.

Though part of the increase came from the reversal of temporary factors that had restrained growth, the expansion was a welcome relief for an economy that looked on the brink of recession just weeks ago.