Blowout US GDP report obscures troubling slowdown

Washington (AFP) – After the worst downturn on record, the US economy posted a jaw-dropping annual rate of growth of 33.1 percent in the third quarter, but economists say the headline number obscures potential signs of trouble.With days before the November 3 election, President Donald Trump will almost certainly seize on the data from the Commerce Department as proof the recovery he promised from the Covid-19 pandemic is underway.But economists warn that the rebound in the July-September period, after the 31.4 percent drop in the second quarter, was driven by consumer spending supported by a m…

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HEDGE accordingly