The US economy probably grew at record speed in the third quarter. But the crisis isn't over

New York The US economy started bouncing back from the pandemic lockdowns over the summer months. That much is certain. But just how big this rebound was — and how far we still remain from the pre-pandemic normal — won't be known until Thursday, when we'll get our first look at America's third-quarter report card.

Just five days before the presidential election, the Bureau of Economic Analysis will report US gross domestic product — the broadest measure of economic activity. Economists polled by Refinitiv expect the economy expanded about 7%, when adjusted for seasonal particularities, between July and September compared to the prior three months. That would be a sharp gain from the second quarter, when the economy shrunk a seasonally-adjusted 9%.

Measuring the reboundThe US economy fell into a recession in the first half of the year.The National Bureau of Economic Research defines a recession as a period between the peak of economic activity and the nadir. At this point, we can't be sure that we're out of a recession just yet. Early signs point to a slowdown in economic activity this quarter, and as Covid-19 cases spike again across America, a second lockdown — and deeper recession — are not outside the realm of possibility.

Fake economics

So when GDP comes in at 35% don’t think that record shattering number means anything!😂😂😂😂😂. God CNN is insufferable.

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Every economist predicted we would be in this slump well into 2021 with 25% unemployment. Yet here we are booming! 3rd quarter GDP is estimated to be north of 30%.

Biased reporting!! Change the channel!🇺🇸

This is why everybody. That drop at the end is not going to be overcome easily

Enemy of the people.

Only if the market was the economy.

Stimulus check rebound?

'the greatest they ever seen, I'll tell ya. People are amazed'.

Does anybody watch CNN

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Source: Variety - 🏆 108. / 63 Read more »