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
