US GDP Bounceback Bigger than Expected at 33.1% in Q3

The US Commerce Department reported today that it estimates GDP grew at a 33.1% annualised pace from July to September. That outstrips the 31.4% drop from April to June, and beat the estimate from economists surveyed by Dow Jones. The resilience of the US economy is awesome. Expect Trump to boast this is roughly double the previous GDP growth record of 16.7%, set in Q1 1950…

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