How well does this good news reflect the economy as a whole? With forecasters in broad disagreement, it might seem that we'll have to wait until third-quarter results are in. As of Sept. 24 the GDPNow team calculated third-quarter annualized growth of 32%. And it implies that the economy already had recaptured three-fourths of its second-quarter collapse in a single quarter. The other is that, collectively, virtually all of the so-called experts underestimated the economy's intrinsic resilience.

Source: Daily Sun October 08, 2020 15:56 UTC