US economy grown at a historic pace

US economy grown at a historic pace

US economy here the world's largest economy has grown at a historic pace in the third quarter 



But the deep scars from COVID 19 decision could take a year or more to heal the world's largest economy has injected more than three trillion dollar worth of pandemic relief fueling consumers spending in the country. 


Partially recovering from the collapse in economic output early this year u.s economy pounded rebounded in fact in the third quarter at a 33.1 per cent annualized rate this is the last major economic scorecard before next week's presidential election in the country the economy remains 3.5 below its level at the end of 2019. 


Incomes plunged in the third quarter the government's rescue package has provided a lifeline for many businesses and unemployed juicing up consumers spending there which on its own contributed seventy-six point three per cent certain GDP with five days remaining to election day u.s president trump shared the report trump celebrated 33.1 GDP growth in July September quarter by far largest quarterly gain on record making up ground from its epic plunge. 


In the spring when the eruption of coronavirus closed businesses and threw tens of millions out of work this is the greatest number 33.1 if you ask me two weeks ago I would have said I’ll take 12 12 would have been very nice nobody ever heard of 12 33.1. 


let me tell you what they're going to do I never even thought of this one they won't even talk about it this is the biggest event in business in 50 years nobody's ever seen a number like this is bigger than any nation no nation has a number like that. 


Meanwhile, trump's democratic challenger Joe Biden highlighted the lack of full recovery and the rapidly petering growth spurt economists have warned that economy is already weakening again and facing renewed threats as confirmed water cases are surging hiring has slowed and federal stimulus help has largely run out. 


however, it did not ease the human tragedy inflicted by coronavirus pandemic with tens of thousands of Americans still unemployed and more than two lack the 28 000 did.


Post a comment (0)
Previous Post Next Post