US Economy Grows At Its Fastest Pace Ever In The Third Quarter

WASHINGTON || Even as the United States Of America (USA) busies itself in the presidential elections, there is some good news on the economy front. According to reports, the US economy grew at its fastest pace ever in the third quarter as a nation battered by an unprecedented pandemic started to put itself back together.

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% annualised pace. Markets reacted positively to the news, with Wall Street erasing a loss at the open and turning mostly positive.

Increased consumption along with sold gains in business and residential investment as well as exports fuelled the third-quarter rebound.