GDP soars by record 33.1% annual pace in third quarter, but coronavirus resurgence threatens U.S. economic recovery

GDP soars by record 33.1% annual pace in third quarter, but coronavirus resurgence threatens U.S. economic recovery

10/29/2020 4:28:00 PM

GDP soars by record 33.1% annual pace in third quarter, but coronavirus resurgence threatens U.S. economic recovery

An unshackled U.S. economy soared by a record 33.1% annual pace in the third quarter as it began to recover from the coronavirus epidemic, but the historic rebound in the summer has already tapered off and a fresh viral outbreak threatens to further choke off growth.

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US economy grew a record 33.1% annual rate last quarter but the pandemic remains an enormous threatThe US economy in the summer recovered much of the historically enormous ground it lost in the spring, expanding at the fastest rate on record in the third quarter, the Commerce Department reported Thursday. Trump is winning Still leaves GDP at -3.4% through three quarters and heading into a 4th quarter with no economic stimulus and another massive wave staring us right in the face. Going to be a rough 4th qtr.

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