Excluding autos, the gain amounted to 1.5%, which also was better than the 0.4% estimate.
Markets reacted positively to the news, with Dow futures implying an opening gain of about 126 points. However, economists expect that number to turn around when third-quarter growth is announced at the end of the month, with the Atlanta Fed's GDPNow tracker pointing to a 35.2% increase. That would be more than double any single-quarter growth going back to at least 1947.coronavirus cases
The unexpectedly big gain in spending comes after months of historically high savings as consumers retrenched due to the Covid-19 scare. The personal savings rate peaked at 33.6% in April and remained at 14.1% in August, the highest pre-pandemic rate since June 1975.
V shape thank you Mr Trump!
MegaMidnightExpress Worship unto The LORD is Not a Joke in the Church because HE is our Only Hope.
Trump's got it. 🔥
If a economy showing signs of strengthening, makes you mad. You are on the wrong side
Instant detraction from Liberals above and below ^^🔽🔽
As James Carville says,,,, 'It's the economy stupid'.
Or the numbers are just made up, especially since the election a few weeks away.
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