US Economic Update – November 2020

Q3 bounce; but COVID-19 risks remain

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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