U.S. GDP grew at a 4.9% annual pace in the third quarter, better than expected

The US economy grew by 4.9% in the third quarter of 2020, outpacing analyst expectations. This robust growth is attributed to reopening after the coronavirus lockdown and consumer and government spending on infrastructure. The 4.9% annualized rate is the third consecutive quarter of growth following the sharp downturn due to the pandemic, and the highest rate of expansion since the third quarter of 2003.


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