WASHINGTON—The U.S. economy grew at a record pace in the third quarter, fueled by more than $3 trillion in pandemic relief, the government confirmed on Dec. 22, but appears to have lost momentum as the year draws to an end amid raging new COVID-19 cases and dwindling fiscal stimulus.
The economy plunged into recession in February and remains 3.4 percent below its level at the end of 2019. The United States is struggling with a resurgence in new coronavirus cases, with more than 17.78 million people infected and over 317,800 dead, according to a Reuters tally of official data.
