The GDP for the third quarter of 2020 set a record for growth.  However, we are still not back to even.  A 30% drop is not offset by a 30% gain.  We are observing one of those situations where a 50% loss requires a 100% gain to get back to even.

Nevertheless, this last quarter recovery is quite remarkable.  Click on the link and read the article and pay attention to the graphs for a detailed account as to what is going on in the economy. 

Lowell