According to the Department of Commerce Bureau of Economic Analysis, real gross domestic product increased at an annual rate of 33.1 percent in the third quarter after real GDP dropped 31.4 percent in the second quarter.
Personal income grew 0.9 percent while consumer spending increased 1.4 percent in September, according to recent estimates. The U.S. monthly international trade deficit decreased in September as exports increased more than imports.
The stock market continues its march forward to another potential record. Residential real estate sales are at or above last year’s numbers in most areas thanks to low interest rates and despite limited inventories.
The consumer price index for all items remained the same in October.
I’m sorry to bore you with a bunch of government statistics, but I’m trying to make the point the economy was on track to return to pre-COVID numbers. It’s up to us to sustain the momentum — especially here in Mesa County.
The recent increase in COVID-19 cases has once again limited business operations and potentially could close them — just when were bouncing back from the previous shutdown.
Small businesses play a collectively big role in our community in providing goods and services, so its important to do our best to help them survive.
All I’m suggesting is that everyone remain a little more cautious during the upcoming holidays to help limit the spread of COVID-19 and avoid blocking the path to full recovery. With the promise of a vaccine in the near future, perhaps we’ll soon get past COVID fatigue.
.Aside from that, I hope everyone enjoys their Thanksgiving holiday safely while celebrating its true meaning.