The report, which had been delayed by the US government shutdown, revealed that consumer spending jumped and exports increased, contributing to the strong growth. Aditya Bhave, senior economist at Bank of America, described the economy as "very very resilient" and noted that it has defied doom and gloom expectations since the beginning of 2022. "I don't see why that wouldn't continue going forward," Bhave added in an interview with the BBC's Business Today programme.

The underlying economy has maintained solid momentum despite being buffeted by dramatic changes to trade and immigration policies, as well as persistent inflation and cuts to government spending. The report highlighted that while some areas, such as imports and exports, have experienced sharp swings, the overall economy has outperformed many forecasts.

The growth figure for the third quarter of the year was much stronger than expected, with consumer spending accounting for a significant portion of the increase. According to the report, consumer spending rose at an annual rate of 2.1 percent, while exports increased by 10.2 percent. The strong growth has been attributed to a combination of factors, including a rebound in consumer confidence and a boost in government spending.

The report's release has had a positive impact on the markets, with stocks rising in response to the news. The Dow Jones Industrial Average closed up 1.2 percent on the day of the report's release, while the S&P 500 index rose 1.5 percent. The strong growth has also sparked optimism among economists, with many predicting continued growth in the coming quarters.

The US economy's resilience has been a topic of discussion among economists and analysts, with some attributing it to the country's diverse economy and ability to adapt to changing circumstances. "This is an economy that has shown remarkable resilience in the face of adversity," said Bhave. "It's a testament to the strength and diversity of the US economy."

The report's release has also highlighted the need for continued monitoring of the economy, particularly in light of the ongoing trade tensions and inflation concerns. As the economy continues to grow, policymakers will be closely watching for signs of overheating and potential risks to the economy.

In the coming weeks and months, the US economy is expected to continue growing, with many economists predicting a strong fourth quarter. However, the ongoing trade tensions and inflation concerns will remain a key focus for policymakers and economists, who will be closely monitoring the economy's performance.