Skip to comments.U.S. GDP booms at 33.1% rate in Q3, better than expected
Posted on 10/29/2020 6:40:19 AM PDT by Republican Wildcat
Coming off the worst quarter in history, the U.S. economy grew at its fastest pace ever in the third quarter as a nation battered by an unprecedented pandemic started to put itself back together.
Third-quarter gross domestic product, a measure of the total goods and services produced in the July-to-September period, expanded at a 33.1% annualized pace, the Commerce Department reported Thursday in its initial estimate for the period.
That came after a 31.4% plunge in the second quarter and was better than the 32% estimate from economists surveyed by Dow Jones. The previous post-World War II record was the 16.7% burst in the first quarter of 1950.
Markets reacted positively to the news, with Wall Street now looking at a flat to slightly positive open.
Increased consumption along with sold gains in business and residential investment as well as exports fueled the third-quarter rebound. Decreases in government spending following the expiration of the CARES Act rescue funding subtracted from GDP.
(Excerpt) Read more at cnbc.com ...
That darn Trump and his stoopid policies of not doing any....... Oh?!
Early voting sucks
This news could have flipped many Biden voters
Okay, who had the winning number?...................
Ad if the 3 western states, Illinois, Michigan, Wisconsin, Pennsylvania, New York and New Jersey would re-open their economies, the recovery would be even more dramatic.
The recent DOW drop is because of the uncertainly of the election. Investors are hedging their bets, hoping for the best but fearful of a Biden win. When President Trump is declared elected the Market will roar back.
All of the indicators are moving in the right direction.
The MSM left and China were promoting China’s 5.1% GDP growth for a comparable quarter only to have the US hammer their story line of the China miracle with 33% GDP growth, the largest growth number in US history.
This should be the only thing Trump talks about for the next five days.
The Hunter Biden story isn't going to flip anyone. The only people who care about it were already Trump voters.
I did hear him mention this. However Biden supporters dont listen to Trump rallies and they call him a liar even if they hear it.
This, evidently, is not what the msm is reporting. They are insinuating that this is just a recovery of what was originally lost from the beginning of the China flu. Bastards!
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