Usa pandemic economy Government Coronavirus Usa

US economy grew at record 33% rate last quarter

Reading now: 355
www.clickorlando.com

The U.S. economy grew at a sizzling 33.1% annual rate in the July-September quarter -- by far the largest quarterly gain on record -- rebounding from an epic plunge in the spring, when the eruption of the coronavirus closed businesses and threw tens of millions out of work.Yet the recovery from the deepest recession since the Great Depression of the 1930s remains far from complete.

The Commerce Department’s estimate Thursday of third-quarter growth regained only about two-thirds of the output that was lost early this year when the economy essentially froze as safety orders forced restaurants, bars and many retailers to shut down.The economy is now weakening again and facing renewed threats.

Read more on clickorlando.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA