After a free-fall of the U.S. gross domestic product for the second quarter this year, the third quarter tells a different story.

Certified Financial Planner with Journey Financial Tim Heisterkamp tells Raccoon Valley Radio the GDP was up 33.1-percent in the third quarter, compared to the second quarter, where the GDP was down 31-percent. He says the large jump was due mostly to the federal government’s previous stimulus package. Heisterkamp explains how a second round of stimulus funding could help improve the U.S. GDP even more.

“It will help the gross domestic product because what you are doing is when you are giving people the stimulus checks, you are putting money in their bank accounts. So that increases the supply of money out there, which simply means people have money to spend. And when they have money to spend, then businesses are making money, and that increases the gross domestic product, of the GDP.”

Heisterkamp points out tech and stay-at-home stocks also did very well in the third quarter.

“So the Amazons of the world did very, very well (as did) Peloton and Zoom, anything that help people stay at home. Some of the companies that dealt with payment systems like Square and Paypal, they all had really good years, so far, just because it helped people increase the quality of life at home.”

Heisterkamp adds, conversely, the stocks that didn’t do well last quarter were travel and leisure, including airplane and hotel companies.