V ‐​Shaped Recovery

Chris EdwardsThe Bureau of Economic Analysisreleased estimates of third quarter gross domestic product (GDP) today. The headline is that GDP jumped 33.1 percent from the second quarter at an annualized rate.That statistic is hard to appreciate, so I  charted the underlying GDP data from BEATable 1.1.6. The chart shows GDP in the BEA ’s 2012 constant dollars.You can see the sharp drop in the second quarter of 2020 and the sharp rise in the third quarter. It is a  V‐​shaped recovery so far. However, we’ve still got more climbing to get to the peak reached in the fourth quarter of 2019.
Source: Cato-at-liberty - Category: American Health Authors: Source Type: blogs