U.S. economy grew at fastest pace in years as media looks for way to say this is bad

Gross domestic product grew at an annualized rate of 4.9% last quarter, better than expected and indicative of robust economic growth.

The sharp increase came due to contributions from consumer spending, increased inventories, exports, residential investment and government spending.

Consumer spending, as measured by personal consumption expenditures, increased 4% for the quarter after rising just 0.8% in Q2, and was responsible for 2.7 percentage points of the total GDP increase.