New Data Shows A V-Shaped Pandemic Recovery Underway That Biden’s Plans Would End

On Thursday, the government announced that the nation's gross domestic product grew by an all-time record 7.4 percent during the third quarter.

At the NewsBusters blog, the Media Research Center's Joseph Vazquez noted that the Thursday morning news shows on CBS and NBC failed to even mention the government's 8:30 a.m. release about the amazing economic recovery, while ABC only briefly ran the news on its chyron.

Its data is particularly relevant this year because the negative effects of the nation's hard COVID-19 lockdowns included parts of the first and second quarters, while the recovery began during the latter part of the second quarter.

As of Oct. 1, the latest available data from IHS told us that the economy roared back during the first three months after its March-April COVID-19 swoon: IHS estimates that the economy shrunk by a frightening 15.2 percent during March and April, but then grew by 12.4 from that bottom during May, June, and July, regaining 70 percent of what was lost.

Repeats of July's 1.5 percent result, although significantly below May and June, would have returned the economy back to or even above where it was at its February peak in just four more months.

IHS further estimates that the economy grew by 0.6 percent in August.

Not coincidentally, almost all of these states have unemployment rates well above September's 7.9 percent national average.

https://thefederalist.com/2020/11/02/new-data-shows-a-v-shaped-pandemic-recovery-underway-that-bidens-plans-would-end/