US GDP growth rate is 33.1% in the third quarter of 2020. In the second quarter, the US annual GDP was reduced by 31.4%.
Much of what happened in the second quarter has turned the United States around. And analysts are of the opinion that Donald Trump will be the winner in the next election.
In the US 33.1% is the highest GDP growth rate in the third quarter since the calculation of quarterly growth began in 1948.
The reason for publishing it as an annual without considering the actual growth rate of a quarter is the assumption that the growth trend of one quarter will continue into the next quarter.
But in times of uncertainty, economists think it is better to publish real accounts than these accounts. The actual growth in this quarter has been 7.4%. As a result, the contraction in the previous quarter was 9%.
However, the economic activity of the United States has increased a lot in the third quarter. After the lockdown, like other countries, they also opened everything. But economists say there is no reason to believe that the United States’ plight is over.
Economists say that although the third-quarter growth rate is higher than the second-quarter contraction, the economy has not yet fully recovered.
The thing is that the contraction of the second quarter was so great that the base of the third quarter was much lower.
The matter can be understood only by comparing it with the pre-epidemic period. That is the US economy is still 3.5% smaller than at that time.
According to the US National Bureau of Economic Research, the epidemic began in February this year. It is unknown at this time what he will do after leaving the post.
Meanwhile, the first month of the fourth and last quarter of the year has passed. With this, the incidence of coronavirus is increasing. The coronavirus second wave has started. In this situation, analysts believe that the pace of economic activity has slowed down again.