President Trump continues Winning. This from Marketwatch.
The numbers: The record increase in U.S. economic growth over the summer in the aftermath of the coronavirus pandemic lockdowns was revised slightly higher to a 33.4% annual pace, the Commerce Department said Tuesday.
The increase in gross domestic product, the official score card for the U.S. economy, was previously put at 33.1% during the three month period from July to September.
The rebound followed a record 31.4% decline in the April-June quarter reflecting the impact of business lockdowns to combat the coronavirus pandemic.
What happened: Consumer spending, the main engine of the economy, was revised slightly higher along with business fixed investments. These were partly offset by a downward revision to exports.
So what is happening in the fourth quarter? Biden failing badly so the MSM refused to report on the economy and China gate. Blue states under a phony threat of you die if you vote or go out during Thanksgiving. Now the good news, Corporate profits also rebounded strongly last quarter. But performance has been overtaken by the relentless pandemic, leaving GDP growth estimates for the fourth quarter around a 5% rate. Most economists expect modest growth or even a contraction in the first three months of 2021.