Third-quarter GDP unchanged at 33.1% annual rate as pandemic weighs on future growth
Wednesday, November 25, 2020 | Tag Cloud Tags: coronavirus, Economy, News, virus, Washington, Worthy News | Learn about our FREE SYNDICATION Service | Sign up for our Worthy Briefs!
(Worthy News) – The Commerce Department on Wednesday reported that third-quarter GDP growth was unchanged at 33.1%, which confirms the record-breaking expansion that occurred last quarter.
Still, last month’s growth is not enough to return the economy to pre-pandemic health. The economy contracted at a record-breaking 31.4% annual rate in the second quarter, and it is still 3.5% smaller than it was at the end of 2019.
Wednesday’s report comes as the spike in coronavirus infections is expected to weigh on future economic growth. [ Source: Washington Examiner (Read More…) ]
Fair Use Notice:This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission from the copyright owner.