The GDP rose by a record 7.4 percent in the third quarter, a sharp reversal from the historic and devastating second-quarter plunge of 9 percent
The U.S. economy grew at a record 7.4 percent between July and September and has recovered two-thirds of the ground it lost during the first half of the year. But economists remain wary, as the figures come just as the country is entering a period of rising coronavirus cases.The data released Thursday morning by the Bureau of Economic Analysis was in line with expectations and stands in sharp contrast to the historic and devastating second-quarter plunge of 9 percent because of pandemic closures. As state shutdown measures eased over the summer and businesses brought people back to work, the economy and consumer spending looked vastly different, and much healthier, than they did between April and June.