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Gross Domestic Product (GDP) <br />Personal Consumption Expenditures 1.1% -4.8% -24.0% <br />Gross Private Domestic Investment -0.6% -1.6% -8.8% <br />Net Exports and Imports <br />1.5% 1.1% 0.6% <br />Federal Government Expenditures 0.3% 0.1% 1.2% <br />State and Local (Consumption and <br />0.2% 0.1% -0.4% <br />Gross Investment) <br />Total 2.4510 -5.0% -31.4% <br />Source: US Department of Commerce <br />Gross Domestic Product (GDP) <br />9/20 M <br />30.0% <br />25.4% <br />20.0% <br />12.0% 10.0% <br />0.0% - <br />-3.2 <br />-10.0% <br />-0.4% -20.0% GDP QOQ % Change <br />-30.0% -GDP YOY % Change <br />-0.4% <br />-40.0% <br />33.4% SP,a, Hai SP,v, Hai SP.a, Hai soa, far sP;0 �0,, sOb <br />IS 16, -76• 1) 1� 1� 1� l9 'l.9 -)0 ?0 <br />Source: US Department of Commerce <br />According to the third estimate, real US gross domestic product (GDP) grew at an annualized rate of 33.4% in the third quarter (up slightly from <br />the advance and second estimates), following a 31.4% annualized decline in the second quarter. Third quarter GDP growth was by far the <br />largest annualized gain on record but followed the largest annualized decline in GDP on record in the second quarter. Personal consumption <br />expenditures rebounded in the third quarter and was by far the biggest contributor to third quarter GDP growth. The consensus estimate for <br />fourth quarter 2020 GDP growth is 4.6%. The consensus forecast for US gross domestic product growth in 2021 is 4.0%, following an expected <br />3.5%decline in 2020. <br />12 C►" <br />19 <br />