U.S. Economy Expands at Record 33.1% Pace in 3Q

Oct.29 — The U.S. economy bounced back with a record yet temporary surge of growth in the third quarter as businesses reopened and stimulus cash powered consumer spending — reversing much of the collapse stemming from coronavirus lockdowns. Gross domestic product grew 7.4% from the prior period, a quarterly gain that equals an annualized pace of 33.1%. Mike McKee reports on “Bloomberg Surveillance.”

Source Bloomberg Markets and Finance YouTube Channel