U.S. economy strengthened significantly in the third quarter

U.S. economy
U.S. economy

U.S. gross domestic product grew 7.4 percent quarter-on-quarter in the third quarter. On an annualized basis, it is 33.1 percent. This is the largest quarter-on-quarter increase in the performance of the US economy since 1947, when this type of data began to be monitored.

As a whole, the US economy rebounded after falling nine percent in the second quarter. But analysts warn that the United States may not have won yet. On the one hand, there is an increase in daily increases in confirmed coronavirus cases, and on the other hand, it is difficult to expect that the economic support packages will continue to operate in the last quarter of this year.

In any case, this is good news, especially for Donald Trump, who has been powerfully tightening Joe Biden’s lead in the polls in recent days. The fitness of the economy has always played an important role in situations where the current US president has defended his mandate. Moreover, positive data came from the labor market some time ago. At the end of September, the unemployment rate was just below eight percent, while it was still at the 15 percent threshold in April. This was the worst result since the Great Depression in the 1930’s.


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