Historic decline for the U.S. economy as second quarter GDP plunged 31,4%


U.S. GDP to show comeback in third quarter, but economy is still weak. The numbers: The record decline in the U.S. economy in the early stages of the coronavirus pandemic was modified slightly to a 31.4% annual pace — setting the stage for a big rebound in the third quarter. The economy has been engaged in a comeback since the start of the summer, and GDP is expected to show a big snap-back rebound in the third quarter. Economists believe the economy will expand at an annual rate of 30% in the current quarter, but the figures will not be release before 29th October, just a few days before the elections.

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