The U.S. economy went into overdrive during the third quarter of 2014 due to consumer and business spending relations, which the country has not experienced for the past 10 years.

The yearly rate of the country's gross domestic product (GDP) rose 5 percent during the quarter ending in September of this year, the country's highest rate since the third quarter of 2003, which was at an estimated account by 3.9 percent. The current GDP even went higher than the expected 4.3 percent increase made by 75 economists polled in a Bloomberg survey.

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Meanwhile, a possibility that the Federal Reserve might increase interest rates this coming 2015 because experts are now predicting that consumer spending is even going to be higher since the employment rate is becoming more stable and the price of gas is cooperating to go low. All of these are great contributions for more consumers go out there and purchase.

On the other hand, Bloomberg said that things like inventories, trade and even government spending might affect the growth that this good start could ease when the year ends. Last month's declining durable goods orders could also be an indication that the last quarter of the year's sudden rise of the economy might not be sustained.

Chief U.S. economist for JP Morgan Chase in New York Michael Feroli stated that the way consumers are spending these days is currently doing the a economy a huge favor. And since the prices of energy went down and employment is rising again, 2015 is going to be a good one when it comes to the financial status of the country.