https://www.cnn.com/2020/10/29/business/economy-gdp-jobs-covid/index.html
So the economy shrank appx 8.5%?
Lets use a basic index to see how much the economy grew or shrank in Q1 and Q2
100*(1-0.314)= x
100*(0.686) = x
The economy shrank to 68.6 per the index at par = 100 = x
quarter 2 =
x*(1+0.331) = y
x*(1.331) = y
68.6*1.331 = y
91.3066 = y
100 index - 91.3066 index at end of Q2 = 8.6934% since the end of Q4 2019 (as approximation from rounding.)
Wow. The economy Shrank. Lets see what Q3 numbers look like in comparison. How much growth would it take to get pack to par? appx 11.503% [there needs to be more stimulus]
1/(1-0.913066) = 1/0.086934 = 11.5029792716...= as an index as 11.503 rounded
so 91.3066*1.11... = 101.35... as an index as 1.35% growth and therefore is an incorrect but close enough number to go by. I, tonyotag, venture to say that Q3 did not grow at 11%. The economy truly shrank at a rate that was pitiful for 2020.
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