U.S. economy explodes in 3rd quarter, up record 33.1%

3rd quarter growth (Image courtesy BEA)

The Bureau of Economic Analysis on Thursday announced that the U.S. economy grew by a record 33.1% during the third quarter, giving support to President Trump’s confidence in a “V-shaped” recovery from the damage sustained from the Chinese COVID-19 pandemic.

In the second quarter, real GDP decreased 31.4%, the federal agency noted.

“The increase in third quarter GDP reflected continued efforts to reopen businesses and resume activities that were postponed or restricted due to COVID-19. The full economic effects of the COVID-19 pandemic cannot be quantified in the GDP estimate for the third quarter of 2020 because the impacts are generally embedded in source data and cannot be separately identified,” it said.

READ MORE HERE: https://www.wnd.com/2020/10/u-s-economy-explodes-3rd-quarter-stunning-33-1/

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