- U.S. GDP accelerated at a 33.1% annualized pace in the third quarter, the Commerce Department reported.
- That was better than the 32% estimate from a Dow Jones economist survey.
- A surge in business and residential investment along with stronger consumer activity helped the economy after its worst-ever quarter in Q2.
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It funny, during the Trump Administration, the news broadcasts always reports economic news as “unexpectedly good”. During the Obama years, it was always “unexpectedly worse than anticipated.”
It’s
We’re about 2/3 of the distance back to baseline, which is good. Let’s hope we have a more targeted response to hospitalizations and deaths than we had last spring. Sweden is the one European country which is not suffering right now.