The US economy grew at a record pace of 33.1 percent in the third quarter of 2020 after the steepest ever drop of 31.4 percent in the previous three months due to lockdowns forced by the coronavirus pandemic, the Commerce Department said on Thursday
WASHINGTON (Pakistan Point News / Sputnik - 29th October, 2020) The US economy grew at a record pace of 33.1 percent in the third quarter of 2020 after the steepest ever drop of 31.4 percent in the previous three months due to lockdowns forced by the coronavirus pandemic, the Commerce Department said on Thursday.
"Real gross domestic product (GDP) increased at an annual rate of 33.1 percent in the third quarter of 2020," according to the 'advance' estimate released by the Bureau of Economic Analysis," the department said in a news release.
