The US economy, according to experts, grew by 30 percent in the third quarter, which is a post-war record. Bloomberg writes about it.
According to analysts interviewed by the publication, the government is preparing to announce at the end of October these figures and the sensational pace of economic recovery. The unemployment rate, which peaked at 13 percent in June, is projected to fall to 6 percent by the end of 2021.
Economists explain such figures by easing quarantine measures and the fact that the US Congress and the Federal Reserve System came to the rescue with unprecedented fiscal and monetary assistance. They plan to introduce new support measures in November.
In the second quarter of this year, the country's economy contracted by 32.9 percent compared to the same period last year. In March, the US government decided to allocate two trillion dollars to support the country's economy; in May, the government allocated another three trillion dollars for these purposes. Damage to the United States from the coronavirus pandemic could be $16 trillion, said former Treasury Secretary Lawrence Summers