Today, Sen. Mike Lee (R-UT), Chairman of the Joint Economic Committee, released the following statement on the Bureau of Economic Analysis’ GDP estimate for the third quarter of 2020:
"GDP rose 33.1 percent in the third quarter, its highest annualized increase on record. Today’s report confirms that we are a nation in recovery, and this recovery is a testament to Americans’ hard work keeping their businesses afloat and providing for their communities during a trying period. Although personal spending has not yet returned to pre-pandemic levels, continued vigilance on the part of citizens and businesses will help restore consumer confidence long-term. Meanwhile, Americans’ efforts to support their friends, families, and neighbors will strengthen the recovery in coming months."