U.S. Economy Recovered Significant Ground in Record Third-Quarter GDP Rebound


The economy grew at a record pace in the third quarter—increasing 7.4% over the prior quarter and at a 33.1% annual rate—recovering significant ground it lost earlier in the coronavirus pandemic.

Gross domestic product—the value of all goods and services produced across the economy—jumped following a record decline from earlier in the pandemic, offsetting a good chunk of the record drop in output earlier in the year when the virus and related shutdowns disrupted business activity across the country.


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