November 1, 2020
Record gains aren’t enough to get us out of the hole that COVID left us in.
- The GDP reading, which measures economic growth, showed an annual growth rate of 33%+ and month-over-month growth of more than 7%. This was better than what Wall Street analysts expected.
- This record gain over the last three months comes off a huge loss over the previous three months – a reading reflecting the halting of economic activity during COVID.
- However, the lost ground has not been fully recovered…yet.
- Why This Matters: The pace of economic recovery matters to citizens and Wall Street analysts alike. Some suggest the lack of economic stimulus will further slow down the economic recovery.
U.S. GDP booms at 33.1% rate in Q3, better than expected READ MORE
by Jenna Lee,