One week away from Election Day and President Trump could not have gotten better news regarding the economy if he had written the script himself.
President Trump actually got two pieces of good news, both of which should make voters hesitate to pull the handle for Joe Biden next week.
The United States GDP grew by 33.1 percent last quarter as well as jobless claims being far lower than expected.
Great News for Trump
The gain in the GDP is very significant, as it shows this economy is rebounding far sooner than expected.
The annualized pace of 33.1 percent was the single most significant increase in the GDP in the third quarter EVER.
Right now, the economy is only behind its pre-COVID level by 3.5 percent.
This is all growth that will be stunted if Joe Biden takes over and decides to shut down the country again.
Jobless claims were also down significantly.
For the week ending October 24, claims declined by 40,000 over the previous week and were about 7,000 less than expected.
Even though this number can fluctuate rather dramatically from week-to-week, the rolling average is also down, which is a great sign that people are starting to go back to work.
The next week will be a challenge for Trump, however, as airlines are expected to announce massive layoffs due to no stimulus help as of yet.
Additionally, many restaurants around the country were taking advantage of the warmer weather to keep customer counts up.
As colder weather starts to seep in, it will be curious to see how creative the restaurant industry gets to remain open and keep its employees working.