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Economists: US GDP to demonstrate the greatest growth since the Second World War just before the elections



Economists: US GDP to demonstrate the greatest growth since the Second World War just before the elections
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America’s economy has started to roar back, anticipating the release of the third quarter of the nation’s gross domestic product next week.

The federal government will officially unveil its estimates next Thursday, but Bloomberg’s survey of economists expects a 30% growth rate, which it called “remarkable” as well as a post-war high.

In its report, Bloomberg reported that it expects the economy to continue to grow and that one factor in potential growth is that “states are unlikely to re-establish widespread lockdowns even if cases continue to increase.”

Bloomberg noted that consumer spending has increased for four consecutive months and that the National Home Builders Association’s monthly Builders sentiment index has been the strongest since it started in 1985.

Bloomberg’s outlook is not the only one to look up.

BREAKING: “On October 29, 10 days from now, we expect a report that says the third quarter of real GDP has rebounded at an annual rate of 33.4%,” according to the First Trust Portfolios in Chicago.

In September, according to Yahoo, the Bank of America projected third-quarter GDP growth of 27 percent.

GDP The Federal Reserve’s now calculator is even more optimistic, with a 35.3 percent growth estimate since it was last updated on Tuesday, according to the Atlanta Federal Reserve.

Can the Democrats hinder the recovery of America?

In its report on the projected 30 per cent GDP growth rate, CNBC noted that the economy has added 11,5 million jobs since May and that optimism has improved.

The Conference Board CEO Confidence Index, which tests the percentage of positive responses to economic conditions, reached 64 in September after reading 45 in August.

According to the study, 64 percent of those surveyed expect economic conditions to continue to improve.

“CEOs have been much more upbeat in Q4 than they were earlier this year,” said Dana Peterson, Chief Economist of the Conference Board.

“In particular, talent shortages eased in the aftermath of COVID-19, and almost two-thirds of business leaders said they expected nothing, if any, to recruit skilled employees. However, uncertainty about the pandemic — and its consequences — remains a challenge to Q4 ‘s renewed optimism as we reach 2021, “Peterson added.

Earlier this month, President Donald Trump said that if Democratic Joe Biden wins the presidential election, the recovery could be stalled.

“The policies of the left will cause an economic catastrophe of epic proportions,” Trump said, according to CBS.

“The option America faces is simple: it’s the option between unprecedented prosperity under my pro-American policies, or crushing poverty, and a steep depression under the radical left,” Trump said in a speech to the New York Post Economic Club.

“Under my continued leadership, we will begin our V-shaped recovery and unleash a record-breaking economic boom,” he said.

“We will end the pandemic with a safe and efficient vaccine, build 10 million jobs in the first 10 months of 2021, and rapidly return to full employment,” said Trump.

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