U.S. Economy Up 33 Percent, But Not Fully Recovered

U.S. GDP grew at a 33.1 percent annual rate.
Posted at 11:49 AM, Oct 29, 2020

The number of new U.S. jobless claims fell to 751,000 last week. 

That's the lowest number since the pandemic took hold in March, but a sign companies are still laying off employees. 

The U.S. economy rebounded at a record rate last quarter.

U.S. GDP grew at a 33.1 percent annual rate. 

But that comes after shrinking at a 31 percent annual rate in the spring.

As most states see a surge in cases and Congressional relief talks are stalled, economists predict growth will slow to about 3 percent in the final months of the year.