119 days ago • Posted by Charles-Henry Monchau
From record decline to record gain
Following the record decline in Q2, economists were expecting Q3 to be a record in the opposite direction. And that's exactly what we got. While economists were expecting growth of 32.0% on a seasonally adjusted annualized rate (SAAR), the actual reading came in even stronger at 33.1%. With economic growth of 33.1% following a quarter where activity shrank 31.4% (source: Bespoke).