GDP in the third quarter raised to 5.2% — but surge in growth is fading

The numbers: The U.S. economy grew at a zippy 5.2% annual pace in the third quarter — faster than previously reported — but the surprisingly strong gain appears to have been a one-off.

Gross domestic product, the official scorecard for the economy, was revised up from an initially reported 4.9% rate of growth. It was the biggest increase in a decade if the pandemic years of 2020-21 are excluded.

The…