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Just a week before the election, Donald Trump can enjoy the value creation of the time in America.
Recent figures from the US statistical authorities show growth in value creation (GDP) in the previous quarter of up to 7.4 percent. This corresponds to an annual growth of 33.1%, the highest growth in history.
However, the growth comes after a 30 percent drop in the second quarter, illustrating the huge fluctuations during the corona pandemic. Anyway, the numbers were a little better than expected.
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Handelsbanken Capital Markets wrote in its morning report that GDP growth was expected to reach 32 percent in the third quarter, calculated as a seasonally adjusted annual rate. This corresponds to a quarterly growth of around 7 percent.
According to the bank’s experts, there is an impressive growth rate on paper, but at the same time it is not enough to bring the activity to where it was. Handelsbanken believes that we must also take into account the level of activity that one would have had had the crown crisis not occurred.
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America’s GDP is 3.5 percent lower than before the crisis began. Handelsbanken writes that it will likely be a few years before unemployment in the US falls back to February levels – that is, before the corona pandemic hits.
Figures on the number of first-time applicants for unemployment benefits in the United States were also released on Thursday. They show 751,000 new applicants, 40,000 fewer than last week.
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