President Trump’s prediction is correct. The third-quarter GDP numbers are much “better than expected,” according to the Commerce Department.
The US GDP shot up to 33.1% in the third quarter, moving past the estimate of 32% from a Dow Jones economist survey.
After the worst ever second quarter due to the coronavirus pandemic, there was a jump in business and residential investment.
Stronger consumer activity also helped the numbers for the third quarter as consumer activity makes up 70% of the GDP numbers. Americans began shopping and going out to bars and restaurants again after lockdowns were lifted. This brings up the question of the political differences in Trump vs. Biden’s policy on the coronavirus. President Trump believes the virus can be managed without another lockdown. The survival rate from the coronavirus has gone up because of the different treatments available. Biden plans a “dark winter” and a lockdown with a national mask mandate.
President Trump has been firm in his belief that America cannot shut down again.