Economic growth: Bouncing back…and a return to boring? | Visa

Economic growth: Bouncing back…and a return to boring?

Solid economic data in August point toward a historic bounce in third quarter gross domestic product (GDP) growth as the reopening process continues.

September 2020 GDP Chart: Seasonally adjusted real gross domestic product. See image description.
Seasonally adjusted real gross domestic product, with compound annual growth ranging from 2.9% in Q1-2019 to -31.7% in Q2-2020. Growth is expected to rebound to 33% this quarter and 6.5% in Q4, before returning to pre-recession levels in 2021 and reaching 2.8% forecast by Q4-2022. Year-over-year growth ranged from 2.3% in Q1-2019 to -9.1% in Q2-2020, with a gradual recovery over the next couple quarters to .3% in Q1-2021 and 2.7% forecast by the end of 2022.