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Money USA: Confirmed rebound of 33.1% of GDP at an annualized rate in the third quarter

17:10  25 november  2020
17:10  25 november  2020 Source:   pressfrom.com

Stimulus Delay, COVID Surge Set to Crunch U.S. Retailers During Crucial Holiday Season

  Stimulus Delay, COVID Surge Set to Crunch U.S. Retailers During Crucial Holiday Season Retail sales increased less than expected in October and are set to slow further, held back by the second wave of the pandemic and the uncertainty over when the next round of government support will come.U.S. retail sales increased less than expected in October and are set to slow further, held back by a rise in coronavirus cases and the millions of unemployed Americans who do not know when the next round of government financial support will come.

Third - quarter gross domestic product , a measure of the total goods and services produced in the July-to-September period, expanded at a 33 . 1 % annualized pace Increased consumption along with sold gains in business and residential investment as well as exports fueled the third - quarter rebound .

quarter , GDP rose an annualized 33 . 1 %, unchanged from the first estimate released in October, and on top of consensus expectations. While the overall change in GDP was unrevised from the advance estimate, upward revisions to business investment, housing investment, and exports were offset by

USA-ECONOMY-GDP: USA: Confirmed rebound of 33.1% of GDP at an annualized rate in the third quarter

USA: REBOND CONFIRMÉ DE 33,1% DU PIB EN RYTHME ANNUALISÉ AU TROISIÈME TRIMESTRE © Reuters / EDUARDO MUNOZ USA: CONFIRMED REBOUND OF 33.1% OF ANNUALIZED GDP IN THIRD QUARTER

WASHINGTON (Reuters) - The rebound in the US economy in the third quarter after the halt caused in the spring by the coronavirus crisis has reached a unprecedented level of 33.1% annualized, confirms the second estimate of gross domestic product (GDP) Wednesday.

This figure is unchanged from the initial estimate released in late October by the Commerce Department. Economists polled by Reuters on average expected a revision up slightly, to 33.2%.

The world's largest economy contracted by 31.4% in the second quarter, still at an annualized rate, its sharpest drop since the federal government began monitoring statistics in 1947.

(Lucia Mutikani, French version Marc Angrand, edited by Jean-Michel Bélot)

RBA keeps interest rates on hold at record-low 0.1 per cent .
Australia's interest rates will remain at the historic low level of just 0.1 per cent for the rest of 2020 after the nation's central bank decided to hold steady in today's rates announcement.Australia's interest rates will remain at the historic low of just 0.1 per cent for the rest of 2020 after the nation's central bank decided not to slash the official cash rate further.

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