The U.S. economy grew at a 32 percent annual rate during the third quarter of the year, estimates indicate.
That is a record pace for economic growth.
Economic output had shrunk by a 31.4 percent annual rate in the second quarter, as a result of the coronavirus lockdowns.
“Strong consumer spending helped propel the economy in the third quarter that ended Wednesday,” reports The Wall Street Journal.
“Job growth averaged more than 2.5 million per month through the late spring and summer,” Reuters reports.
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