The New Paper

October 29, 2020

Q3 GDP increases at record pace

US GDP increased by an annualized rate of 33% in Q3, marking the largest increase on record amid continued efforts to reopen businesses and resume activities that have been postponed or restricted due to the coronavirus. The record increase in Q3 follows a record decline last quarter (when GDP fell by an annualized rate of 31%), and GDP remains down ~9% from pre-coronavirus levels.

More context: GDP measures the value of the goods and services produced in the United States. See the latest report from the BEA here.

This story is from the October 29, 2020 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.