Happy Holidays! Economic Growth Finally Starting to Look Robust.

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Hey, take a look at this. Yet another revision is in, and the Commerce Department now estimates that third-quarter GDP grew at a sizzling 5.0 percent rate, following a nearly-as-good 4.6 percent rate in the second quarter. Part of this is still a make-up for poor growth in the first quarter, but it’s good news nonetheless. The economy really does seem to have found a new gear this year:

Tuesday’s report showed stronger-than-expected spending by U.S. consumers, particularly on services like health care. Fixed nonresidential investment also was revised up, signaling more spending by businesses on new buildings and research and development.

“There is a positive feedback loop going on at the moment,” Mike Jakeman, global analyst for the Economist Intelligence Unit, said in a note. “Job creation is running at the strongest rate for 15 years. More people in work means more income, which means more private spending, which means more business investment, which means more hiring.”

Corporate profits are also up, and the stock market is at new highs every day. Wage growth still needs to get stronger, but it showed signs of life last quarter. All things considered, five years after the Great Recession technically ended, we’re finally doing pretty well.

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is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

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