US economic growth shatters record at 33.1%, but fails to snap coronavirus recession
Gross domestic product, the broadest measure of goods and services produced across the economy, surged by 33.1% on an annualized basis in the three-month period from July through September, the Commerce Department said in its first reading of the data Thursday. The previous post-World War II record was a 16.7% increase in 1950.
Refinitiv economists expected the report to show the economy had expanded by 31%.
But the headline figure obscures the full…