Fiscal stimulus bolsters US economic growth in Q1, fastest GDP growth since 2003
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Fiscal stimulus powers U S economic growth in first quarter - Netscape Money & Business
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WRAPUP 4-Fiscal stimulus powers U.S. economic growth in first quarter
04/29/2021 | 08:36am EDT
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Message : First-quarter GDP increases at 6.4% rate Consumer, business spending boost growth Trade, inventory investment subtract from output Weekly jobless claims fall 13,000 to 553,000
WASHINGTON, April 29 (Reuters) - U.S. economic growth
accelerated in the first quarter as the government gave money to
mostly lower-income households, fueling consumer spending and
setting the course for what is expected to be the strongest
performance this year in nearly four decades.
The government largesse also extended to businesses,
especially in the high-contact services industry. The massive
fiscal stimulus and easing anxiety over COVID-19, with all adult
Article content
WASHINGTON U.S. economic growth accelerated in the first quarter as the government gave money to mostly lower-income households, fueling consumer spending and setting the course for what is expected to be the strongest performance this year in nearly four decades.
The government largesse also extended to businesses, especially in the high-contact services industry. The massive fiscal stimulus and easing anxiety over COVID-19, with all adult Americans now eligible for vaccination against the virus, have resulted in a faster economic rebound in the United States compared to its global rivals.
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