For several months the Trump administration has been talking about a “V-Shaped recovery,” meaning the COVID-19 rebound would be as strong as the preceding quarter contraction. Today the Bureau of Economic Analysis (BEA) released the third-quarter economic stats reflecting exactly that, a V-shaped recovery.
The 3rd quarter rebound in GDP growth was 33.1 percent, larger than the 2nd quarter contraction of 31.4 percent. And keep in mind this is with a major part of the U.S. leisure and hospitality sector remaining severely impacted. [See Table 3, Line 20]…
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