U.S. 3rd quarter GDP expands 33.1%, unrevised from earlier estimate

The U.S. economy expanded an annualized 33.1 percent in the July-September period, unrevised from an earlier estimate, the Commerce Department said Wednesday.The growth in real, or inflation-adjusted, gross domestic product followed a record 31.4 percent contraction in the preceding quarter amid the coronavirus pandemic. The latest figure represents the steepest quarterly gain since comparable data became available in 1947.According to the department, private consumption, which accounts for two-thirds of the world’s largest economy, increased 40.6 percent in the third quarter, following a 33.2…

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