The gross domestic product (GDP) surged at a 7.2 percent
annual rate in the July-September period the Commerce Department has reported, marking the steepest climb since the first quarter of 1984 and more than double the second quarter's 3.3 percent rate.
The increase, which also reflected a big gain in business capital spending, outstripped forecasts on Wall Street, where most economists had looked for a rise closer to 6 percent.