(AmericanProsperity.com) – Each quarter, the US Commerce Department gives Americans a snapshot of our country’s economic health. This week, we learned that President Donald Trump led our nation to have a historic third quarter, with the economic growth and Gross Domestic Product (GDP) outpacing predictions.
On Tuesday, December 22, the Bureau of Economic Analysis (BEA) released the official third-quarter report, showing that the real GDP increased at an annual rate of 33.4%.
The department believes this increase was driven by reopening businesses and activities that had been shuttered during lockdowns. In addition, there was an uptick in personal spending and investments.
The BEA also released a report giving state-by-state analysis:
GDP adjusted for inflation increased in all 50 states and the District of Columbia in the third quarter of 2020, ranging from 52.2% growth in Nevada to 19.2% in D.C. https://t.co/RpESeU2gkI
— BEA News (@BEA_News) December 23, 2020
This quarter’s GDP increased by 8.2% from the second quarter. Both of these statistics reflect a historic comeback to what could’ve been a long and painful recession. Our strong and resilient leader, President Trump, was able to provide just what Americans needed to keep our nation moving forward.
~Here’s to Your Prosperity!
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