According to a new publication by the Department of Commerce, the U.S. economy set a new growth record despite the global crisis caused by the CCP Virus. According to reports the economy in the third quarter, marked a growth of 33.1%.
The new data released by the U.S. Department of Commerce, was endorsed by the consulting firm Refintiiv, which indicated that the U.S. economy grew at a record pace during the third quarter, according to Fox News.
According to the report, the Gross Domestic Product increased 33.1% during the three months prior to September. The initial estimate released last month showed record growth as the U.S. economy recovered from its slowdown induced by the global crisis caused by the CCP Virus.
The U.S. economy contracted at an annualized rate of 32.9% in the second quarter as international lockdowns aimed at slowing the spread of the virus brought activity to a halt.
The Commerce Department report states, “The increase in real GDP reflected increases in personal consumption expenditures (PCE), private inventory investment, exports, nonresidential fixed investment, and residential fixed investment that were partly offset by decreases in federal government spending and state and local government spending. Imports, which are a subtraction in the calculation of GDP, increased.”
With respect to jobs, the numbers are also encouraging. The Bureau of Labor Statistics released October data on Nov. 6, showing that the U.S. economy added 2.2 million jobs and the national unemployment rate fell to 6.9%, The Federalist reported.
The report says, “These improvements in the labor market reflect the continued resumption of economic activity that had been reduced by the coronavirus pandemic and efforts to contain it. In October, there were notable improvements in employment in leisure and hospitality, professional and business services, retail, and construction.”
While the average unemployment rate nationwide is 6.9%, New York sets a negative record of 14.1% and California 11.0%, both states are led by two Democratic governors who are keeping people and businesses under tight lockdown measures despite CDC (Center for Disease Control and Prevention) data showing that the virus is only deadly in people over 65 with pre-existing conditions.
It is worth noting that the unemployment rate in New York state in January 2020 was 3.8%, according to the specialized website Datosmacro.
While Americans are going through one of the most important institutional crises of recent times, by revealing the widespread fraud of the Democrats who are trying to steal the elections, the big media have ignored (once again) the good news of the Trump administration: unemployment continues to fall and has exceeded the expectations that economists had projected.