Blowout U.S. economic growth in summer is already fading

Americans may feel whiplashed by a report Thursday on the economy’s growth this summer, when an explosive rebound followed an epic collapse.

The government will likely estimate that the economy grew faster on an annualized basis last quarter than in any such period since record-keeping began in 1947.

Just be forewarned: The sizzling pace won’t last.

The economy is weakening and facing renewed threats. Confirmed viral cases are surging. Hiring has sagged. Government stimulus has run out. And even last quarter’s outsize growth will leave the economy far below its level before the pandemic struck in March.