The U.S. economy grew at a 4.3% annual rate from July through September, the quickest since the first quarter of last year and evidence of resilience in the face of hurricanes and record energy costs.

The revised figure for gross domestic product, the value of all goods and services produced in America, was higher than economists forecast and compares with a 3.8% pace initially estimated, the Commerce Department’s figures showed today. Growth was 3.3% in the prior three months.

Stronger demand and declines in inventories will keep factories humming, providing fuel for an economy that’s grown in excess of 3% for 10 straight quarters, the longest such streak since 1986. Consumer spending, construction and business investment were more robust than the government first estimated.

“The economy is booming,” said Mike Englund, chief economist at Action Economics LLC in Boulder, Colorado. Mr. Englund correctly forecast third-quarter growth. “As much as people may have been concerned about gas prices, consumers took the hit and now gas prices are falling.”

The Federal Reserve said today in its regional survey of businesses that retailers were “optimistic” about the holiday shopping season. At the same time, the so-called beige book of economic conditions showed that consumer prices “remained stable or experienced generally modest increases.”

The GDP report also showed that a measure of inflation watched by Fed policy makers rose at the slowest pace since the second quarter of 2003.

The economy probably created 210,000 jobs in November and the unemployment rate likely held at 5%, according to a survey of economists before a Labor Department report December 2.

Economists forecast a 4% gain in GDP last quarter.