Skip to comments.Blowout US economic growth in summer is already fading
Posted on 10/29/2020 2:09:59 AM PDT by Oldeconomybuyer
Americans may feel whiplashed by a report Thursday on the economys growth this summer, when an explosive rebound followed an epic collapse.
The government will likely estimate that the economy grew faster on an annualized basis last quarter than in any such period since record-keeping began in 1947.
Just be forewarned: The sizzling pace wont last.
The economy is weakening and facing renewed threats. Confirmed viral cases are surging. Hiring has sagged. Government stimulus has run out. And even last quarters outsize growth will leave the economy far below its level before the pandemic struck in March.
The strength of this figure is an optical illusion, Nancy Vanden Houten, an economist at Oxford Economics, wrote in a research note. Growth has since slowed, and we expect markedly weaker activity in the October-December quarter and beyond.
(Excerpt) Read more at apnews.com ...
Did the AP run any stories on the Biden family crime syndicate? Didn’t think so.
It takes about a 30 second search to find CHRISTOPHER RUGABER has been bashing the economy left and right for many months. Now why would that be? /s
I wonder why?
Trumplicans need to deliver the House to the President to ensure that American patriots can get on with our economy. Pelousy is the only real obstacle at this stage.
Nothing was for sure.. what was open..what hours..go inside or curb..mask or not.. what aisle to go down.. how many feet apart..
It was easier to order..or just do without or make do.
And ya wonder why a slow summer...
What time EDT is it released?
And Nancy Vanden Houten analyst
Such pathetic bias
Birds of a feather. Starlings. Loud nuisances and worthless
The economy roared back due to performance by the free states. The commie states would add a ton of energy if they were not choked by insane governors.
“What time EDT is it released”
Typical economic data is released at 8:30 AM Eastern time.
The D states are millstones for the national economy.
If the economy falls 30% and then rises 30%, what do you have? It isn’t 100%. It is 91%. How much more in the next period to get to 100%? A: A “much slower” 9.9%.
AP says dont believe the numbers that your lying eyes see. They want you to be very afraid of the Covid Monster and the Dark Winter that is coming.
The AP is throwing shade on the economy a few hours before a blockbuster GDP announcement.
Yeh, it's great, but it won't last. I hate these people.
LOL! American Pravda is desperately trying to discount what they know are going to be excellent economic numbers which show Trump was right all along when he said wed have a V shaped recovery once the lockdowns were lifted.
AP trying to get ahead of the quarterly GDP report coming out November 1 that last quarter GDP growth of 30% plus was the largest in the country’s history by far confirming super V recovery by saying yeah, but we won’t have 30%% growth this quarter. Sucks to be you on the disinformation side of this great economic story, AP. Maybe you should try writing abut something that might actually be credible...like the Hunter Biden story
ASS-OCIATED DEPRESSED. This they report on, bidens criminal activity? what acticity?
Well, Cuomo, Newsom, Whitmer, Wolf, Murphy are certainly trying their damndest.
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