US economy falls 31.4% in spring; may shrink for the first time since 2009

The government will not release its July-September GDP report until Oct. 29, just five days before the presidential election

The U.S. spends the most money on advertising in the world. Marketing and advertising spending in 2020 is projected to reach nearly $390 billion. Dan Mewing/Moment via Getty Images

While President Donald Trump is counting on an economic rebound to convince voters to give him a second term, economists said any such bounce back this year is a longshot.

The US economy plunged at an unprecedented rate this spring and even with a record rebound expected in the just-ended third quarter, the US economy will likely shrink this year,

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First Published: Sep 30 2020 | 9:40 PM IST

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