The Dow lost more than 200 points Tuesday and 943 points Wednesday. Thereafter they are expected to increase steadily to reach slightly above USD 50 by 2022, which is 3% higher than previously reported. While the data is released quarterly – and revised over time – some economists view annual growth in GDP as a more accurate reflection of an economy's health. GDP Resources and Uses - 3rd quarter of 2020. The leisure, travel and entertainment industries have been hit hard, but real estate, home improvement and grocery stores have done well. A collection of moments during and after Barack Obama's presidency. Compared with the same quarter of the previous year, GDP decreased by 2.9% (after -9.0% in the previous quarter). The U.S. economy grew at a … "Unlike past recessions, higher income earners have been significantly less impacted, and this group has been able to help power the economy by taking advantage of low interest rates for loans, sustaining basic consumer spending activity and participating in the heavily-lopsided stock market, further widening an already-stark economic divide.". WASHINGTON (Reuters) - The U.S. economy grew at a record pace in the third quarter, fueled by more than $3 trillion in pandemic relief, the government confirmed on Tuesday, but appears to have lost momentum as the year drew to an end amid raging new COVID-19 cases and dwindling fiscal stimulus. "The rebound has been V-like, but the remaining recovery will likely move slower until a vaccine becomes available," the firm wrote. "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. GDP increased at an annualized rate of 33.4% in the third quarter, the Bureau of Economic Analysis said Tuesday morning in an upwardly revised final … Start Survey » We are running a quick survey. That was better than the 32% estimate from a Dow Jones economist survey. However, in 2019 the economy grew at an annual rate of 2.3%, similar to the annualized growth during Barack Obama's second term. The negative y-o-y GDP development was caused by a … GDP growth by Member State Economists had been ratcheting up their forecasts in advance of the number's release by the Bureau of Economic Analysis. Nigeria’s Gross Domestic Product (GDP) contracted by 3.62 per cent (year-on-year) in real terms in the third quarter of 2020, the National Bureau of Statistics (NBS), says. 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. In the second quarter, real GDP decreased 31.4 percent. GDP expanded 4.9% in annual terms in Q3, following the 3.2% increase recorded in Q2. 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-crisis high. The GDP numbers will have been juiced, in part, by trillions of dollars in federal stimulus spending that was approved in March but started to flow into the economy for weeks thereafter. Trump routinely says his administration has created the greatest economy in history and in recent days hinted at a strong GDP number. 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. Organisation for Economic Co-operation and Development (OECD), © 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. Removing the president’s account in the wake of the shockingly violent protests at the Capitol Building followed repeated warnings and a 12-hour suspension earlier this week. 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