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Economy Surges but Hasn't Recouped All Pandemic Losses

The economy grew at a record pace in the third quarter—increasing 7.4% over the prior quarter and at a 33.1% annual rate—recovering about two-thirds of the ground it lost earlier in the coronavirus pandemic.
Gross domestic product—the value of all goods and services produced across the economy—jumped as pent-up consumer demand and government support helped power spending after disruptions related to Covid-19 eased. The increase in growth, the biggest jump in records dating to 1947, followed a record decline earlier in the…
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