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Economy Sees Record Rebound at 33 Percent Annualized Rate

Economy Sees Record Rebound at 33 Percent Annualized Rate
A hiring sign is displayed in front of a store in Brooklyn, New York on October 7, 2020. Chung I Ho/The Epoch Times
Emel Akan
Emel Akan
Reporter
|Updated:

WASHINGTON—Following a record downturn, the U.S. economy expanded by 7.4 percent over the prior quarter and at a 33.1 percent annual rate, posting the strongest recovery in recorded history.

The Bureau of Economic Analysis released its first estimate of third-quarter real gross domestic product (GDP) on Oct. 29. Strong growth between July and September this year reflected continued efforts to reopen businesses and resume activities following COVID-19 lockdowns, the Commerce Department reported.
Emel Akan
Emel Akan
Reporter
Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the policies of the Trump administration. Previously, she reported on the Biden administration and the first term of President Trump. Before her journalism career, she worked in investment banking at JPMorgan. She holds an MBA from Georgetown University.
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