U.S. Economy Recovered Significant Ground in Record Third-Quarter GDP Rebound

Posted on AllSides October 29th, 2020
From The Center
Economy and Jobs, coronavirus, GDP, reopening business, US Commerce Department

The economy grew at a record pace in the third quarter—increasing 7.4% over the prior quarter and at a 33.1% annual rate—recovering about two-thirds of the ground it lost earlier in the coronavirus pandemic.

Gross domestic product—the value of all goods and services produced across the economy—jumped following a record decline from earlier in the pandemic when the virus and related shutdowns disrupted business activity across the country. That puts the economy about 3.5% smaller than at the end of last year, adjusted for inflation and seasonal fluctuations.

The third-quarter...

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https://www.wsj.com/articles/us-gdp-third-quarter-2020-11603908566

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