US GDP surges at record 33% rate in third-quarter
GDP report will aid Trump's election campaign ahead of next week's presidential election, but masks concern over Covid surge
29 October 2020 - 17:57
Washington — The US economy grew at a record pace in the third quarter as the government injected more than $3-trillion worth of pandemic relief which fuelled consumer spending, but the deep scars from the Covid-19 recession could take a year or more to heal.
Though the commerce department's report on Thursday on GDP — one of the last major economic scorecards before next week's presidential election — was one for the history books, it did little to ease the human tragedy inflicted by the coronavirus pandemic, with tens of millions Americans still unemployed and more than 226,000 dead...
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