"The concern is we get another setback in the fourth quarter," Grant Thornton Chief Economist Diane Swonk told CNBC ahead of the report's release. Tim Smart is the Contributing Editor for news at U.S. News & World Report. GDP also rebounded in all other major economies: in Canada (by 10%, following a contraction of 11.5% in the previous quarter), Germany (8.2%, minus 9.8%), Japan (5.0%, minus 8.2%) and the United States (7.4%, minus 9.0%). Real gross domestic product (GDP) increased at an annual rate of 33.1 percent in the third quarter of 2020 (table 1), according to the "second" estimate released by the Bureau of Economic Analysis. He served as, Unemployment Claims Fell to 787,000 Last Week, California Do Not Sell My Personal Information Request. If we continue to see the spread, we can't reflate the economy.". The nation's gross domestic product grew at a blistering 33.1% pace in the third quarter, according to a government report issued Thursday days before a hotly contested presidential election and amid a surge in coronavirus cases. Yet, the Dow Jones Industrial Average has been on a downward trend this week over concerns about a sharp rise in coronavirus cases. WASHINGTON (AP) — The U.S. economy expanded at a record 33.4% annual pace from July through September, the Commerce Department said Tuesday, delivering the … Trump routinely says his administration has created the greatest economy in history and in recent days hinted at a strong GDP number. (John Minchillo/AP). The peso … OECD GDP rebounded by 9.0% in the third quarter of 2020 but remains below pre-pandemic high Download the entire news release (PDF 120KB) 19 Nov. 2020 - Following the unprecedented falls in real gross domestic product (GDP) in the first half of the year in the wake of COVID-19 containment measures, GDP in the OECD area rebounded by 9.0% in the third quarter of 2020 but it remains 4.3% below its pre … "November and December could be materially worse. The Dow lost more than 200 points Tuesday and 943 points Wednesday. Coronavirus, Istat: 17 thousand companies plan not to reopen anymore. On a quarter-on-quarter seasonally adjusted, GDP elevated to 18.2 per cent (Q2 2020: -16.5%). Tuesday, November 10, 2020 The GDP recorded a growth rate of -11.5 percent in the third quarter, compared to the previous quarter’s growth rate of -16.9 percent. In a note to clients this week, Glenmede Trust Company described the recovery so far as more like that of a response to a natural disaster than a typical recession but said a lot remains on what happens with the coronavirus. Any process would be greatly expedited since the president is set to leave office in less than two weeks, though it’s possible it would drag out beyond his departure on Jan. 20. A collection of moments during and after Barack Obama's presidency. The GDP rose by a record 7.4 percent in the third quarter, a sharp reversal from the historic and devastating second-quarter plunge of 9 percent. We are running a quick survey. The increase of the GDP was driven by increased consumer spending, especially for health care and food, as well as exports and rising inventories. U.S. GDP accelerated at a 33.1% annualized pace in the third quarter, the Commerce Department reported. South Africa’s GDP increases by 13.5% in third quarter The lifting of lockdown restrictions has led to increased spending by consumers and a resurgence across industries, allowing GDP to rise. To address these challenges, the statistical community is developing guidance, both conceptual and practical, to help ensure the continued delivery of timely and reliable statistics. In the second quarter, real GDP decreased 31.4 percent. U.S. GDP Q3 2020 final reading The U.S. economy grew at a record pace in the third quarter, fueled by more than $3 trillion in pandemic relief. Start Survey » We are running a quick survey. Not all U.S. presidents are missed once they leave the White House. Stay informed daily on the latest news and advice on COVID-19 from the editors at U.S. News & World Report. The leisure, travel and entertainment industries have been hit hard, but real estate, home improvement and grocery stores have done well. July was a third month of expansion for the economy starting with May’s growth of 2.4%. He served as ...  Read more, Tags: GDP, economy, consumers, coronavirus, pandemic, United States. The Justice Department announced charges against 13 people Friday in connection with the deadly Pro-Trump riots at the U.S. Capitol Wednesday. Tim Smart is the Contributing Editor for news at U.S. News & World Report. Gross domestic product markedly down year on year GDP in the third quarter of 2020 was down a price-ajusted 4.1% on the third quarter of 2019 (price- and calendar-adjusted: -4.3%).. Note: As a consequence of measures put in place by governments to reduce the spread of the Coronavirus (COVID-19), many statistical agencies are facing unprecedented collection, compilation and methodological challenges to develop indicators across a number of domains. The improvement in the third quarter GDP, reflected continued efforts to reopen businesses and resume activities that were postponed or restricted due to the COVID-19 pandemic. The U.S. economy grew at a … GDP remained significantly below the levels of a year earlier in the OECD area as whole (minus 4.1%) and in all Major Seven economies, with the United States (minus 2.9%) recording the smallest annual fall and the United Kingdom (minus 9.6%) the largest. GDP Resources and Uses - 3rd quarter of 2020. The industries that contributed the least to the GDP were Construction, -39.8 percent growth; Real estate and ownership of dwellings, -22.5 percent growth; and Manufacturing, -9.7 percent growth. Nominally, the GDP estimate at current prices in purchaser’s value for the third quarter of 2020 was GH¢92,223.9 million compared to GH¢85,551.8 million in the third quarter of 2019, while the Non-oil GDP (GDP without Oil and Gas) estimate at current prices for the third quarter of 2020 was GH¢89,424.5 million compared to GH¢81,855.7 million in the third quarter of 2019. Gross Domestic Product, Third Quarter 2020 (Advance Estimate) Real gross domestic product (GDP) increased at an annual rate of 33.1 percent in the third quarter of 2020 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. Compared with the same quarter of the previous year, GDP decreased by 2.9% (after -9.0% in the previous quarter). The increase of the GDP was driven by increased consumer spending, especially for health care and food, as well as exports and rising inventories. 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