US Economy Grows While Many Developed Nations are Struggling

While the U.S. economy grew from July through September at the fastest pace in more than a decade, most other major economies have been struggling.

Europe is straining just to grow. So is Brazil. Japan has slid into recession. China is trying to manage a slowdown. Russia foresees a recession next year.

Meanwhile, the U.S. economy accelerated at a robust 5 percent annual rate last quarter.

"The U.S. is easily top of the charts in the developed world and frankly not half-bad by (faster) emerging-market standards," said Eric Lascelles, chief economist for RBC Global Asset Management.

The United States has benefited from aggressive easy-money policies by the Federal Reserve, a banking system that rebounded from the 2008 financial crisis, solid consumer spending in areas like autos and a roaring stock market that has left many Americans feeling wealthier and more willing to spend.

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