WASHINGTON, DC, United States (AP) — The second of three estimates on United States growth for the July to September quarter was unchanged at a record pace of 33.1 per cent. But a resurgence in the novel coronavirus is expected to slow growth sharply in the current quarter with some economists even raising the spectre of a double-dip recession.

While the overall increase in the country’s total output of goods and services was static, the Commerce Department reported yesterday that some components were revised.

Bigger gains in business investment, housing and exports were offset by downward revisions to state and local government spending, business inventories and consumer spending.

The 33.1 per cent gain was the largest quarterly gain on records going back to 1947 and surpassed the old mark of a 16.7 per cent surge in 1950.

http://www.jamaicaobserver.com/news/us-economy-grew-33-1-in-q3_208500