USA

U.S. economy rebounded strongly in the third quarter

The U.S. economy grew at a record annualized rate of 33.1% between July and September clawing back much of the ground it had lost during the coronavirus-fueled shutdown earlier in the year, the Commerce Department said Thursday.

Increased consumer spending, private investment and exports drove the increase, which was partly offset by falling government spending as stimulus funds dried up and states slashed their budgets.

The rebound puts the nation's gross domestic product — the total value of all the goods and products the economy produces — at $21.16 trillion for the three months ending in September. That's below its level at the end of last year.

"[W]hile it's appropriate to be pleased that growth rebounded strongly in the third quarter, it can't obscure the fact that large parts of the economy are still reeling from the Covid hit," Ian Shepherdson, chief economist at Pantheon Macroeconomics, wrote in a research note.

This is a developing story.

Football news:

Koeman on 4:0 with Dynamo Kyiv: Today was the Barcelona we want to see
Holand continues to insist that he is a monster. Fastest in the history of the Champions League scored 15 goals (and added 16)
Koeman on the victory over Dynamo Kyiv: We achieved our goal-we reached the playoffs
Solskjaer on 4:1 with Istanbul: Manchester United played intensely, enjoyed the match. We want to be 1st in the group
Forward Ferencvaros Troll Cristiano: celebrated a goal in his style. Ronaldo responded with a goal and a very angry look
Morata scored 5 goals in 4 games in the Champions League for Juve. His best result is 5 in 12 games in the 2014-15 season
Holand has scored 15 goals in the Champions League the fastest. 7 games better than the record