Surviving During Uncertain Times
The Wall Street Journal (7/29, Cambon, Subscription Publication) reported that the US gross domestic product grew at a 6.5 percent annual rate in the 2nd quarter, raising the size of the economy to its pre-pandemic level, according to data released by the Department of Commerce on Thursday. The GDP had grown at a 6.3 percent annual rate in the 1st quarter.
The Washington Post (7/29, Siegel, Van Dam) reported that the economy “was officially back and fully recovered from the coronavirus pandemic as of June, although a recent surge in cases could bring new uncertainty.” However, “that doesn’t mean the economy is back to the level it would have been at had the pandemic not happened, because about a year of continued economic growth is missing.” The AP (7/29, Crutsinger) said the economy is “showing sustained strength.”