[September] “U.S. economy plunges 31.4% in the second quarter but a big rebound is expected”
October 9, 2020
“The Commerce Department reported Wednesday that the gross domestic product, the economy’s total output of goods and services, fell at a rate of 31.4% in the April-June quarter, only slightly changed from the 31.7% drop estimated one month ago.
The new report, the government’s last look at the second quarter, showed a decline that was more than three times larger than the previous record-holder, a fall of 10% in the first quarter of 1958 when Dwight Eisenhower was president.
Economists believe the economy will expand at an annual rate of 30% in the current quarter as businesses have re-opened and millions of people have gone back to work. That would shatter the old record for a quarterly GDP increase, a 16.7% surge in the first quarter of 1950 when Harry Truman was president…”
https://www.cnbc.com/2020/09/30/us-gdp-q2-2020.html
30 percent gains coming this current quarter? That is huge. Get ready day traders. This is going to be fun.