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U.S. GDP booms at 33.1% rate in Q3, better than expected
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U.S. GDP booms at 33.1% rate in Q3, better than expected

The growth came after a 31.4% plunge in the second quarter and was better than the 32% estimate from economists surveyed by Dow Jones

Economy

U.S. GDP accelerated at a 33.1% annualized pace in the third quarter, the Commerce Department reported.

That was better than the 32% estimate from a Dow Jones economist survey.

A surge in business and residential investment along with stronger consumer activity helped the economy after its worst-ever quarter in Q2.

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Coming off the worst quarter in history, the U.S. 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, the Commerce Department reported Thursday.