Record-breaking GDP growth leaves U.S. economy in the same place as the height of the Great ...
America just posted its biggest annualized and single-quarter GDP growth of all time. It isn't that impressive. The U.S. GDP jumped at a 33.1 percent annualized rate in the third quarter, a growth of 7.4 percent from Q2, . But as Gregory Daco, the chief U.S. economist at Oxford Economics, put it in a , that growth is both "record-breaking and meaningless at the same time." It's true that the 7.4 percent GDP rise from Q2 to Q3 is a record. But it also comes after a record contraction from Q1 to Q2, and a total loss of 10.3 percent throughout ...
Click
To Read Full Article