Doha: The US economy is in the middle of one of the most dramatic economic recoveries ever seen. After the US GDP collapsed by more than 31 percent annualized in Q2 2020, it rebounded strongly on the back of massive policy stimulus and a successful adaptation to the pandemic. US GDP printed annualized growth rates of 33 percent and 4 percent in Q3 and Q4 2020, respectively. While the overall Covid-19 downturn was five times deeper than the average US contraction during a recession, it was extremely short in duration, lasting only about a quarter of the time of an average recession. Importantly, the recovery is proving to be durable, lasting for several quarters and not showing any signs of receding, despite continuous waves of new Covid-19 cases. In fact, the US weekly leading index of economic activity, which is a composite of high-frequency data that tends to lead the business cycle by 3 to 10 months, still points to a rapid acceleration in activity at least for the next couple of quarters.