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U.S. third quarter GDP increases by 33.1% annual rate, but economic improvement is expected to relapse due to rise in coronavirus cases
Summary: The U.S. economy increased by 33.1% growth in the third quarter record, as the country started to recover following the initial impact of the coronavirus pandemic. However, it is uncertain whether this growth will continue as the number of cases in the U.S. start to spike once again. The rise in GDP by 33.1% – ...
The U.S. economy increased by 33.1% growth in the third quarter record, as the country started to recover following the initial impact of the coronavirus pandemic. However, it is uncertain whether this growth will continue as the number of cases in the U.S. start to spike once again.
The rise in GDP by 33.1% – the measure of the U.S. economy – was widely predicted due to the government providing trillions of dollars’ worth of assistance to businesses, workers and the unemployed affected by the virus.
It is expected, however, that the economy will once again relapse due to government aid initiatives ending and a new rise in cases in the U.S. and worldwide. By Kate Graham-Shaw
Tags: Economy,GDP,U.S.
Link: U.S. third quarter GDP increases by 33.1% annual rate, but economic improvement is expected to relapse due to rise in coronavirus cases [Copy]
