U.S. economy, which Americans see as a “very important” issue for their decision in the vote for president, is expected show a record high growth in the third quarter of 2020, just days before the Nov. 3 election.
MarketWatch reported on Saturday, Oct. 24, that the economists in its latest survey forecast the U.S. gross domestic product (GDP) would grow 31.8% year-on-year in the July-September quarter, which would be the biggest expansion ever in modern times.
The survey comes as U.S. voters are coming to ballot polls for early voting.
The GDP report, which will be published next Thursday, Oct. 29, several days before Election Day, should be good news for President Donald Trump who has been touting the expected surge in economic growth at his campaign rallies.
A separate survey released by Pew Research Center on Wednesday, Oct. 21, found that most registered voters in the United States rate the economy as a “very important voting issue” to their vote for president.
The Pew survey showed that 74% of voters prioritize the economy before casting their ballots, while 65% see health care, 63% choose Supreme Court appointments, and 55% rate the CCP Virus outbreak as very important issues.
About eight-in-ten Trump supporters (84%) said that the economy will be very important to their vote, compared with 66% of Biden supporters.
A greater proportion of black voters and Latino voters, 81% and 80% respectively, see the economy as “very important” compared to 73% of white voters. Among men and women, 73% and 74% respectively agreed the economy was very important.
Regarding the CCP Virus issue, 82% of voters who lean Biden see the virus pandemic as a “very important” issue before casting their vote, while only 24% of voters who lean Trump consider the subject equally important.
During a campaign event in Florida on Friday, Oct. 23, President Trump predicted a 35% growth for the United States economy in the third quarter, pointing to projections from the Atlanta Federal Reserve released earlier this week.
“You’re going to see a number on November 1—it’s GDP, a big deal. And the Atlanta Fed just said they think they project 35%. This is many times higher than any number in history, like 8%, maybe 9%. Thirty-five percent because we’re coming back, and the reason we can do this is we set up such a strong foundation for the last three years,” the president told the crowd.
“We’re coming back, and we’re coming back stronger, and next year will be one of the best economic years we’ve ever had,” he continued.