WASHINGTON (MarketWatch) — Global growth is sputtering again. Most Americans remain pessimistic five years after the end of the Great Recession. And the deadly Ebola virus is adding fresh uncertainty.

Yet the U.S. economy continues to chug along and it could soon register its longest and strongest period of expansion in nine years.

On Thursday, the government is likely to report the U.S. grew 3% in the third quarter, right on the heels of 4.6% growth rate in the spring. What’s more, economists polled by MarketWatch predict the nation will also grow at least 3% in the final three months of 2014. The last time the U.S. posted three straight quarters of similar growth was from late 2005 through early 2006.

The steady pace of expansion has made the U.S. an oasis of growth, untroubled so far by slowdowns in Europe and Asia.

“The fundamentals of the economy are stronger now,” said Gus Faucher, senior economist at PNC Financial Services. “We don’t have the same drag from government-spending cuts. Corporate balance sheets are pretty good. Households have less debt. The economy is adding 200,000 jobs a month.”

As a result, the Federal Reserve is expected to end a long-running economic-stimulus program this week when top central bankers meet to fine-tune their strategy to help the nation grow.

The economy won’t truly turn the corner, however, until businesses boost investment and Americans start to spend more freely. The upcoming slate of economic reports this week will offer further clues on the behavior of companies and consumers.

Split picture

U.S. executives are probably seeing double vision these days. Sales are rising at home as companies hire more workers and newly employed Americans spend money. But U.S. exports could take a hit with Europe on the doorstep of another recession and China and Japan also slowing.

Still, companies probably increased spending and investment in September, especially if the volatile airline and auto sectors are stripped out. Economists predict that new orders for durable goods minus transportation may have risen close to 1% last month.

Business investment is one of three main pegs holding up the U.S. economy. Although it’s been surprisingly soft during most of the recovery, it’s shown more signs of life lately. Investors will look for evidence on whether the latest global malaise is causing companies to rethink their plans.

An even bigger peg, consumer spending, has also been lackluster since the U.S. exited recession in mid-2009. Americans spent several years working down debts, but they’re still not spending as much as they normally do and slow income growth is a chief cause.

Consumer spending is not expected to show a big bump in September, but it’s not all bad news. After splurging on new cars and trucks in August, Americans visited auto showrooms less in September. Households also spent less on gasoline and other sources of energy because of falling prices.

A majority of economists believe the rapid gains this year in hiring and the sinking unemployment rate — it fell below 6% last month for the first time since 2008 — are all but certain to push wages higher in the next year. Companies will have to pay more to attract and retain talent, the thinking goes, giving the economy another jolt of momentum as that translates into faster consumer spending.

Not everyone is buying the idea, though. A new Pew poll, for example, found that only 27% of Americans think the economy will be better a year from now. Some three-quarters think the economy is either “fair” or “poor.”

Sterne Agee chief economist Lindsey Piegza, one of small coterie of bearish economists, thinks the U.S. is more likely to plod — not leap — ahead. She points to the disappointingly slow improvement in home sales as a sign that Americans still aren’t as well off financially as many of her colleagues think.

“The story remains unchanged: consumers, strapped with debt and minimal savings, are struggling to afford large purchases without significant income growth,” she said.