Key highlights:

• As expected, there was a large bounce in GDP in Q3.
• However, even after this, GDP remained well below its pre-COVID-19 level.
• With fiscal support unwinding and COVID-19 surging, growth will come under pressure in coming quarters.
• The possibility that COVID-19 related restrictions get ramped up presents downside risk.

Find out more in NAB’s US Economic Update – November 2020