Last Report Card On U.S. Economy Before Elections Will Be A Blockbuster

A store advertises discounts in Santa Monica, Calif., on July 28 amid the coronavirus pandemic. Economic growth data on Thursday are expected to show a record-setting figure for the third quarter, but that covers the more worrisome picture underneath the surface.

Valerie Macon / AFP via Getty Images

On its surface, economic growth data out this week will look like one for the record books. But dig in, and the picture is not as bright.

The Commerce Department is expected to report on Thursday record-setting growth in gross domestic product during the most recent quarter, reflecting pent-up demand as businesses reopened and consumers streamed back into the marketplace.

However, that won’t be enough to repair all of the damage done during the spectacular collapse three months earlier.