U.S. Gross Domestic Product (GDP) rose at an annual rate of 33.1% in Q3 2020, up from a negative rate of 31.4% in Q2, according to the Bureau of Economic Analysis press release. The GDP output increase reflected efforts to reopen businesses and resumption of activities previously restricted due to COVID-19. 

U.S. Gross Domestic Product (GDP) chart
  • Current dollar GDP rose by 38.0% at an annual rate of $1.64 trillion in Q3 to a level of $21.16 trillion.
  • The price index for gross domestic purchases rose 3.3%, relative to a fall of 1.4% in Q2.
  • The PCE price index rose 3.7%, relative to a fall of 1.6% in Q2. 
  • Real gross domestic income (GDI) rose 25.5%, relative to a fall of 32.6% in Q2.
  • The average of real GDP and real GDI rose 29.2%, relative to a decline of 32.0% in Q2.
  • Profits from current production, corporate profits with inventory valuation, and capital consumption adjustments rose by $495.3 billion relative to a fall of $208.9 billion in Q2.
  • Profits of domestic financial corporations rose by $24.5 billion, relative to a decline of $26.5 billion in Q2.
  • Profits of domestic nonfinancial corporations rose by $431.2 billion, relative to a decline of $145.9 billion in Q2.
  • Rest-of-the-world profits rose by $39.6 billion, relative to a fall of $89.5 billion in Q2. 
  • Rest-of-the-world receipts increased by $97.5 billion, while payments increased by $57.9 billion from Q2.

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