The U.S. economy grew at an unrivaled pace in the third quarter as the government poured out more than $3 trillion worth of pandemic relief which fueled consumer spending, but the deep scars from the COVID-19 recession could take a year or more to heal. Gross domestic product rebounded at a 33.1% annualized rate last quarter, the Commerce Department said in its advance estimate on Thursday. That was the fastest pace since the government started keeping records in 1947 and followed a historic shrinkage rate of 31.4% in the second quarter.
U.S.Economy (Reuters): WASHINGTON (Reuters)
Maggie Lague2020-11-02T16:44:17+00:00November 2nd, 2020|