The third quarter of 2020 proved to be strong despite the global crisis, with a 33.1% increase on the annual rate. This is in stark contrast to the real GDP for the second quarter of 2020 that fell at a staggering negative 31.4% during the recession.
The data recorded since 1947 shows that the growth in this year’s third quarter is the fastest growth rate in the history of the US. With the impressive numbers shown, the president remains hopeful and predicts in his tweet that “Next year will be FANTASTIC!!!”.
The figures show how the administration directed its efforts in making the US economy boom at a record speed despite the ongoing crisis. The rebound is a great sign of improvement, offering possibilities of continuous growth ahead.