“Q3 GDP: US economic activity rose at a record 33.1% annualized pace after pandemic-induced slump”
October 29, 2020
“The Bureau of Economic Analysis released its advance print on third-quarter gross domestic product (GDP) at 8:30 a.m. ET on Thursday. Here were the main metrics from the report, compared to consensus estimates compiled by Bloomberg:
- 3Q GDP, annualized quarter-over-quarter: 33.1% vs. 32.0% expected, -31.4% in the second quarter
- 3Q Personal Consumption: 40.7% vs. 38.9% expected, -33.2% in the second quarter
- 3Q GDP Price Index: 3.6% vs. 2.9% expected, -1.8% in the second quarter
- 3Q Core Personal Consumption Expenditures, quarter-over-quarter: 3.5% vs. 4.0% expected, -0.8% in the second quarter
Prior to the pandemic period, the largest-ever quarterly rise in GDP had been a 16.7% annualized increase in 1950. The rise in third quarter 2020 economic activity was nearly twice that, with the record jump following the record 31.4% slide earlier this year…”
https://finance.yahoo.com/news/q3-gdp-gross-domestic-product-usa-coronavirus-pandemic-181533194.html