Author Topic: GDP grew at record 33.1% annual rate in third quarter in partial bounceback from pandemic losses  (Read 466 times)

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Offline mystery-ak

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GDP grew at record 33.1% annual rate in third quarter in partial bounceback from pandemic losses
by Jay Heflin, Business Editor |
 | October 29, 2020 08:32 AM

The U.S. economy grew at a record-breaking 33.1% annual rate in the third quarter, the Commerce Department reported Thursday, beating forecasters' expectations.

The massive growth number, although not enough to return the economy to pre-pandemic health, will provide President Trump to claim in the last days of the election that the country is clawing its way out of the COVID-19 recession faster than critics thought possible.

"This record economic growth is absolute validation of President Trump’s policies which create jobs and opportunities for Americans in every corner of the country," said Tim Murtaugh, the Trump campaign's communications director.

Still, the economy is 3.5% smaller than it was at the end of 2019.

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https://www.washingtonexaminer.com/news/gdp-grew-at-record-33-1-annual-rate-in-third-quarter-in-partial-bounceback-from-pandemic-losses
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Offline mystery-ak

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Democrat Party...the Party of Infanticide

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Offline truth_seeker

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Strong V-shaped recovery per DJT's claim weeeks ago

too little too late however
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Offline berdie

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Strong V-shaped recovery per DJT's claim weeeks ago

too little too late however


How so? I find it amazing.

Offline catfish1957

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How so? I find it amazing.

It is amazing, but unfortunately the unemployment numbers tend to be more of a lagging indicator in these recoveries.  Joe Sixpack cares more for that stat.
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Online Drago

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And about 20% of the 3rd Qtr. GDP gain was Federal Reserve/Treasury printed money stimulus. ($71 billion out of about a $375 billion increase in GDP).

Offline IsailedawayfromFR

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How so? I find it amazing.
I do too.

Do not understand that poster's comment.
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