Profits Poised for Growth

October 12, 2020

COVID lockdowns crushed the economy in the first half of 2020, with real GDP down 5.0% at an annual rate in the first quarter and 31.4% at annual rate in the second quarter, the latter of which was the steepest drop in real GDP for any quarter since the Great Depression in the 1930s.

But for the third quarter, the US is tracing out a V-shaped bounce and likely grew somewhere between 30 – 35% at an annual rate, the fastest increase in real GDP for any quarter since at least World War II. The rebound is due to two things…

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