The numbers: The U.S. economy’s pace of growth in the third quarter was raised to 3.3% from 3% under the government’s latest revision to gross domestic product.

How good is that? It’s the fastest spurt of growth in three years. Even a pair of devastating hurricanes, Maria and Harvey, did little to slow the economy down.

In a tweet, President Trump said GDP would have climbed 3.9% if not for the storms, citing internal research by his Council of Economic Advisers. Private economists had published similar forecasts.

More good news: Adjusted pretax corporate profits rose 4.3% to an annualized $2.22 trillion, marking the biggest gain in a year.

What happened: The improvement in GDP was spearheaded by stronger business investment. Spending on equipment, especially in transportation-related areas, rose 10.4% instead of 8.6%.

Firms have increased spending on ways to deliver goods to customers who order online and to move people around amid an increase in travel. They are also relying more on technology to boost production at a time when skilled workers are increasingly hard to find.

The increase in inventories, meanwhile, was raised modestly to $39 billion.

Also contributing to stronger GDP: public spending. Government outlays were revised from small decline to a mild increase.

The increase in consumer spending, however, was barely changed at a still-solid 2.3%.

Export growth was lowered a notch to 2.2%, but imports were revised to show a steeper 1.1% decline.

Big picture: Very bright. The U.S. has topped 3% growth for two quarters in a row and the economy is poised to make it three for the first time since 2004-2005.

Consumer confidence is at a 17-year high, unemployment is at a 17-year low and businesses are flush with cash amid improving profits. Banks and other financial companies are doing especially well: They accounted for two-thirds of the increase in third-quarter U.S. corporate profits.

If Congress comes through with major tax cuts, businesses could get another jolt of adrenaline in 2018.

What they are saying? “The news on the economy had previously been good, but it just got a little better,” said Jim Baird, chief investment officer at Plante Moran Financial Advisors. “As labor markets have tightened and the availability of skilled labor has diminished, businesses appear to be looking increasingly to upgrading equipment to improve productivity.”