U.S. Gross Domestic Product Surged by 33.1 Percent from July Through September
BOCA RATON, FL, Nov 02, 2020 (GLOBE NEWSWIRE) — The U.S. economy continues to show its resiliency.
The Gross Domestic Product, which is the broadest measure of goods and services produced, increased by more than 33 percent during the 2020 Third Quarter.
“This is amazing news,” said Mitch Gould, founder and CEO of Nutritional Products International. “The GDP increase broke the previous post-World War II record of 16.7 percent in 1950.
“The GDP even surpassed estimates from many economists who expected the economy to grow by 31 percent,” he added.
The GDP surge comes after the pandemic pummeled the economy since March.
“We still have a ways to go,” said Gould, who talks daily with global manufacturers who want to enter the American consumer market. “We talk about how the U.S. economy has shown a strong backbone during the COVID-19 pandemic. It certainly looks as if the government’s stimulus packages, which pumped trillions of dollars into the economy, has worked.”
Gould said he expects Congress to pass its next stimulus package once the winner of next week’s presidential election is chosen.
“With the election behind us, I hope Washington will realize that the economy needs another boost to continue the robust growth of the third quarter,” he said.
Gould’s NPI works with dozens of international health and wellness companies seeking to expand their presence in the U.S. or enter the world’s largest consumer market for the first time.
“The companies I am working with and the ones I am talking to want to position themselves so they are prepared to take advantage of the economic rebound,” Gould said. “They realize the American economy was very healthy prior to the pandemic. They know the economy’s fundamentals were strong.”
Gould said the economy didn’t falter because of a traditional recession.
“It was the pandemic, not the economy, that caused this year’s financial upheaval,” Gould said. “Now, we see the economy bouncing back quickly because the underlying economy was and still is strong.”
NPI works with international companies to ship their products to America and meet all U.S. Customs and FDA labeling guidelines. NPI provides warehousing, product liability insurance, sales expertise, and promotion through strategic public relations and social media campaigns.
To prepare for the economic rebound, Gould said he just hired Kenneth E. Collins as NPI’s executive vice president.
Collins, who previously was a director of sales for the world’s largest sports nutrition company, Glanbia Performance Nutrition, comes to NPI with 20 years of experience in the sports nutrition and consumer goods sectors.
Gould said the NPI team’s experience is the competitive advantage it offers to health and wellness companies.
“Our president, Jeff Fernandez, worked as a buyer for both Amazon and Walmart before joining the NPI team,” Gould said. “We have a leadership team that you don’t see elsewhere.”
Collins and Fernandez join Gould to form a powerhouse trifecta.
Gould has more than 30 years of retail experience that spans several categories of consumer products, including lawn and garden, hardware, sports nutrition, dietary supplements, skincare, nutraceutical, cosmeceutical, and beverages.
“When you combine a strengthening economy with our experience, NPI’s clients have a competitive advantage when they enter the U.S. market,” he said.
For more information, visit Nutritional Products International online.
MORE ON NPI AND ITS FOUNDER
NPI is a privately-held company specializing in the retail distribution of nutraceuticals, dietary supplements, functional beverages, and skin-care products. NPI offers a unique, proven approach for product manufacturers worldwide seeking to launch or expand their products’ distribution in the U.S. retail market.
Mitch Gould, the founder of NPI, is a third-generation retail distribution and manufacturing professional. Gould developed the “Evolution of Distribution” platform, which provides domestic and international product manufacturers with the sales, marketing, and product distribution expertise required to succeed in the world’s largest market — the United States. Gould, known as a global marketing guru, also has represented icons from the sports and entertainment worlds such as Steven Seagal, Hulk Hogan, Ronnie Coleman, Roberto Clemente Jr., Chuck Liddell, and Wayne Gretzky.
